Regarding 14 west highland in New Ringgold... Why priced so high for this area?

Asked by Ellen, 17960 Tue Apr 14, 2009

I could not refinance my home because an exact 3rd comp was needed that sold within the last 6 months and within 1 mile of my propety! This house has ZERO comps going back at least 10 years. And my house is in a place where houses are selling! This house is in a less desireable school district to boot and there are others on the market in the area that are offering the same if not more for alot less money...Even if I were to offer 400,000 - no bank will give me a mortgage for this property because there are no comps.

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This question is about this property: http://www.trulia.com/property/1069240953-14-Hyland-Dr-New-R…

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2
Michael D De…, , 18969
Tue Apr 14, 2009
Ellen,
Basically, a seller can ask whatever price they would like. It doesn't mean it will sell at that price. I am surprised that you needed a comp so close for your refinance. usually an area like New Ringhold is a suburban area and needs comps within 2 miles. If you need any help refinancing, feel free to contact me.
The very best of luck to you!

Michael

Michael D Delp
Mortgage Pro
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Telford Pa. 18969
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Sharon Sapp, , Temple, PA
Tue Apr 14, 2009
An appraiser would know how to take any info available and add or subtract dollars where appropriate. If your mortgage company needs a list of certified appraisers, have them contact me.
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