Posted on 04/22/2013 8:29:02 AM PDT by xzins
Perhaps someone should be making this public. It might get more houses on the market. My guess is that the loss in value during the housing crash has lots of folks thinking that they won't get a reasonable price for their home....which might still be true.
Yeah inventories are really tight in a lot of places (just look at the inventory charts). Friend of mine in Atlanta recently sold his house for $40K over asking price after receiving 15 bids in about 5 days.
I experienced a similar circumstance when we refinanced a little over a year ago. Refinancing with the same company and paying about 25% off of the principal. Needed tons of paperwork, including a new appraisal. Even though, if the loan was not approved, the company would have been at more risk than if they approved it.
How many more “unexpected” drops do we have to have for it to be expected?
“Wish I had a penny for every time that word was used in the last 5 years.”
You beat me to it. How can they keep saying this with a straight face?
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