Reply to Looks like we are almost back at 2007 price in 22043, 22182 and 22046

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Reply to "Looks like we are almost back at 2007 price in 22043, 22182 and 22046"

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[quote=Anonymous][quote=Anonymous]I don't know, there isn't much inventory and not much has sold around there in the past 12 months.  Lots of what has sold were homes sold by the original owners and often in a state of some disrepair, bringing prices down. Plus, if an appraiser uses homes from the Pimmit Hills section of 22043, that could drag your appraisal down.

I'm just a buyer, so this is speculation, but it's also partly what we were told by our agent. She said appraisers are having a very hard time due to the low inventory and lack of sales in many neighborhoods. I think that's born out in another thread about a low appraisal in Bethesda.

There are a couple of other homes on the market in that same general area that are listed at $895-899. I've seen both and think they're overpriced for various reasons, but they'll probably still sell in the low $800s at a minimum, so maybe keep an eye on those and use them as additional data points. [/quote]

I call it "the appraiser from Charlestown, WV syndrome."  Banks are gunshy because they went way overboard during the bubble, now they are overboard in the wrong direction and its screwing a lot of buyers who don't have the cash to cover the difference.  It'll get sorted out eventually, with more time and more comps.[/quote]

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