Here is very positive and current news about Cranford homes designated in a flood zone.....several homes that were flooded as a result of Irene have come on the market this year and have sold for market value, NOT distressed pricing. Some of these homes had several feet of water on the 1st floor.
The buyers were aware of the flooding and property flood designation. They weighed the pros and cons and chose to buy these homes and take advantage of all that Cranford offers.
Most of our buyers at this time are coming from Jersey City, Hoboken, Staten Island, Brooklyn and Manhattan. Our schools, conveniences for the daily commuter, endless recreation opportunities and robust downtown are the primary reasons for our town's appeal.... more
I can care less about a refi appraisal, as an agent I'll do the work run RECENT comps that have actually sold and base my pricing off that which I can show you proof backing up my suggested price.
Banks don't always lowball refi's especially if you're not taking cash out. It depends on the appraiser, many lately I'm noticing are from out of area and don't even have the resources to lookup comps. I'm constantly getting calls from appraisers about my listings that have recently and not so recently sold.
Appraisers are like realtors, they aren't perfect and can be wrong. I like to look at recent sales and realistic comps.
Broker of Record
Marivic GMAC Real Estate
2056A Lincoln Hwy. (Rt.27)
Edison, NJ 08817-3330
Office: 732-650-9911 Ext.302
Cellular: 908-884-5757... more