Why do you need a real estate agent? There are so many steps between choosing the house and closing on the house, places where without proper guidance and care, the transaction can falter. From the perspective of the home owner, the same circumstances exist. Unforeseen issues that occur can create havoc with the purchase, mortgage, appraisal, inspection, title search process.
One of those items looming large on the real estate horizon currently is the appraisal. The appraisal is based on historical data from generally the last six to twelve months, depending upon the area. If this period was depressed with no demand, high unemployment, etc., those six months of sales could appear very bleak and compromise the appraisal value of the home. Because the number of sales during the past few years has been reduced, very often suitable comparison do not exist and without those comparisons, price cannot be justified.
Another problem has to do with banks who through the management system now in place select out of town appraisers who might be hungry for work/income, but are totally unfamiliar with the real estate market in this area. For, as we have certain shared with anyone who will listen, Columbus and Barthlomew County are not in a declining or depressed real estate market, as are some areas within the State of Indiana.
This is a problem that will correct itself as the housing market is improving, the number of properties selling increasing and demand greater than we have witnessed for a while.
CENTURY 21 Breeden Realtors
700 Washington Street, Columbus, IN 47201
812-372-3766 Bus.
812-378-1706 FAX
Info@C21BR.com
http://www.C21BR.com
