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Your House Sold Twice

 

 

Your House Sold Twice

Homeowners: Your House Must Be Sold your Southern Maryland Home TWICE

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans Measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:

”Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.

On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.

The chart below illustrates the changes in home price estimates over the last 12 months.

The Bottom Line

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise.

 
189 Results Price (high to low)
22
$2,490,000 For Sale
5075 Crain Highway
La Plata, MD 20646
2 beds, 1 full, 1 partial baths | Single Family Home
950 sq ft; lot: 16.87 acres
30
$1,049,995 Under Contract
6225 Cool Springs Farm Place
La Plata, MD 20646
7 beds, 5 full, 3 partial baths | Single Family Home
7,500 sq ft; lot: 83 acres
30
$699,900 For Sale
6586 Ellenwood Drive
La Plata, MD 20646
6 beds, 6 baths | Single Family Home
6,655 sq ft; lot: 8.75 acres
30
$685,000 Under Contract
6150 Simms Drive
La Plata, MD 20646
5 beds, 4 full, 1 partial baths | Single Family Home
lot: 2.06 acres
29
$659,900 For Sale
11670 Gilbert Lane
La Plata, MD 20646
6 beds, 3 full, 1 partial baths | Single Family Home
5,268 sq ft; lot: 3.01 acres
30
$650,000 New For Sale
4920 Cloverdale Court
La Plata, MD 20646
5 beds, 3 full, 1 partial baths | Single Family Home
5,050 sq ft; lot: 2.35 acres
30
$649,850 For Sale
8785 Hill Spring Drive
La Plata, MD 20646
5 beds, 4 baths | Single Family Home
4,052 sq ft; lot: 1.24 acres
30
$639,900 For Sale
11655 Gilbert Lane
La Plata, MD 20646
5 beds, 4 full, 1 partial baths | Single Family Home
6,920 sq ft; lot: 3 acres
29
$599,900 For Sale
6150 Kerrick Drive
La Plata, MD 20646
4 beds, 2 full, 1 partial baths | Single Family Home
lot: 1.65 acres
25
$589,000 For Sale
68 Steeplechase Drive
La Plata, MD 20646
3 beds, 3 baths | Single Family Home
7,286 sq ft; lot: 4356 sq ft
3
$586,950 Under Contract
9335 Stonestreet Road
La Plata, MD 20646
5 beds, 4 baths | Single Family Home
lot: 3.75 acres
30
$579,000 Under Contract
6615 Hawkins Gate Road
La Plata, MD 20646
5 beds, 4 baths | Single Family Home
8,080 sq ft; lot: 3.17 acres
1
$577,500 For Sale
9399 Prickly Holly Place
La Plata, MD 20646
5 beds, 5 full, 1 partial baths | Single Family Home
lot: 6.13 acres
30
$575,000 For Sale
11466 Stoneboro Court
La Plata, MD 20646
4 beds, 4 full, 1 partial baths | Single Family Home
5,839 sq ft; lot: 3 acres
30
$539,900 For Sale
11493 Highland Farm Court
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
lot: 1.07 acres
27
$539,000 Active Under Contract
11260 Rustica Court
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
4,798 sq ft; lot: 3 acres
26
$536,000 Under Contract
1005 Maiden Grass Drive
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
lot: 14375 sq ft
30
$524,900 Under Contract
9170 Crescent Lane
La Plata, MD 20646
6 beds, 4 full, 1 partial baths | Single Family Home
5,471 sq ft; lot: 1.72 acres
19
$523,000 For Sale
9356 Stonestreet Road
La Plata, MD 20646
4 beds, 2 full, 1 partial baths | Single Family Home
lot: 3 acres
16
$519,950 For Sale
11533 Highland Farm Court
La Plata, MD 20646
5 beds, 4 full, 1 partial baths | Single Family Home
5,509 sq ft; lot: 1.22 acres

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Carlos Gautier
White Plains, MD 20695
301-399-3519
carlosagautier@yahoo.com

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