How did you get on with your offer? hopefully you got some useful information back regarding how to proceed. Your buyer agent would be able to help you by looking at both similar homes that have sold and also what is currently available on the market - very important in a shifting market. I feel it is a great time to buy now as sellers have become more realistic in their pricing and mortgage rates are at a historic low. On your question regarding appraisals, this would take some more information such as where you got them from and who conducted them.

Wed Mar 19 2008, 14:12

Gib said ---
Our market is "suppressed" only by the fact that many buyers have homes to sell elsewhere (where they are "depressed" and aren't selling) - we still have the climate, vistas, size, population etc that attracts folks and therefore should never be "depressed". Even though our market isn't as great as it once was - homes are still appreciating at about 5% per year. ---- and I couldn't agree more.

I have been including links to this article I wrote but here is a summary:

Asheville in Top 10 Real Estate Markets in 2007

Business Week & The National Association of REALTORS® reported in Daily Real Estate News that the Asheville, NC region was in the top 10 real estate markets in the country for 2007. Home values increased 9.44% in the last year and more than 55% over five years. While some major markets are seeing a significant decline homes continue to appreciate in Western North Carolina. The Asheville Board of REALTORS® shows an increase in inventory and days on the market but apparently prices are still holding. It is a great time to own real estate in Western North Carolina.

You can see the references on my site and feel free to contact me!

Wed Jan 2 2008, 12:14

Hi ESA-MOM
If the appraisal was done for the purposes of financing - it can be biased. If the appraisal was done solely for the purpose of determining the value for sale (as are those that I order for all of my listings) then they can be very accurate. Now, I don't want to disparage all appraisers --- but "if you want to remain on my bank's list of approved appraisers you might want to make sure that the deal goes through. Oh , by the way, here's a copy of the contract." (bisa big time!) ---You'd be surprised to find out how many appraisals "come in" just high enough to make the deal. When my prospective listings say that they already have an appriasal that was recently done for refinancing - I tell them that I will have an "objective" appraisal done (at my cost) and we will compare the two appraisals. Well, you can guess what we often see. It's a problem. Never base an offer on an appraisal until and unless you can verify that it is an "objective" appraisal. Never base an offer on the listing price! Never buy from the "listing" agent - he/she works for the seller and he/she has made a contract to take advantage of you for the benefit of his/her seller. Get a buyer''s agent! They are free and if you find a good one they can save you a lot of money, time, and effort. They are also going to represent you and only you above all others - by law! .
Our market is "suppressed" only by the fact that many buyers have homes to sell elsewhere (where they are "depressed" and aren't selling) - we still have the climate, vistas, size, population etc that attracts folks and therefore should never be "depressed". Even though our market isn't as great as it once was - homes are still appreciating at about 5% per year.
Call me 828 329 1615
Gib

Wed Oct 24 2007, 08:45