Sherry Stapf-Tolisano

On occasion I have felt like I am back in the Air Force again (those inspections where hair raising) when I hear the appraisor is coming! I know I have done everything right from price to condition yet I still have the FEAR. The fear of letting my clients down, the other agent, their client and on it goes! Funny thing is in 11+ years in Real Estate I have only had 2 of my listings come in below agreed upon sales price and of course I was devasted, I somehow failed them until they reminded me they had pushed for a higher sales price! (Yes I have terrific clients!) OK all of this for what? Today I came across some statistics published by NAR in August of 2011 that I found very interesting: An appraisors effect on whether a deal closes or not:

NAR states 65% of appraisals had no effect on the condition of the sale! (We listing agents are doing a bang up job)

NAR states 10% of appraisals caused a transaction to not close! (Not enough equity to sell?)

NAR states 11% of appraisals caused a delay in closing! (Ok sometimes that is the appraisors fault but often its because the appraisal was held up in underwriting, not ordered on time or questionable financing)

NAR states 14% of appraisals caused a reduction in sales price! (I think we can spread the cheer on that one...REALTORS didn't do their homework, appraisors get gun shy, seller insists in increased sales price and buyer wants house, all closing and prepaids are 'rolled' into the price of the home)

My humble opinion: Those of us out there working as Professional REALTORS know when to expect a glitch from the appraisor side and those of us who blame appraisors for our failed transactions probably blame their failed careers on everyone else while they sit on the couch watching court tv in the middle of the work day!

Lots of financial information comes at us via Television, Radio, Neighbors and more? Interest Rates at an all time LOW! How does that help me? I have already refinanced to the lowest interest rate I can get....Have you considered a move up? Many homeowners in, Bossier City, aren't living in their dream home now but, intend to make that move in a couple of years. Why not now? Now when housing prices are stable and there are signs of a slow upward trend in the economy. Rates are expected to rise steadily in the next few years. Now is the time to sell your current home and buy your forever home! For more information and a candid discussion about the pros and cons of upgrading your lifestyle in Bossier City call me at 318-213-1534 or 318-208-9980. Until Next Time Yours in Real Estate ~Sherry