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Reply to "Impact of stock market crash on real estate?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I was talking to a RE this agent who has had two buyers pull out of contracts in the last week.[/quote] We just pulled out of one this morning. Not in DC. Mostly due to a host of intractable inspection issues [b]but it also didn’t appraise[/b] - our agent hasn’t had that happen in years.[/quote] Not surprisingly, your agent has no clue. Appraisals are based on past sales, in other words on houses that went under contract 60+ days ago. Appraisals do not take into account recent stock market fluctuations. Your house was simply overpriced to begin with. Glad you backed out. Consider switching agents or simply not using one. [/quote]
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