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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.

 
125 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, 16.87 acre lot
30
$1,199,999 For Sale
6225 Cool Springs Farm Place
La Plata, MD 20646
7 beds, 5 full, 3 partial baths | Single Family Home
7,500 sq ft, 83 acre lot
30
$597,000 For Sale
9210 Crescent Lane
La Plata, MD 20646
5 beds, 2 full, 2 partial baths | Single Family Home
1.21 acre lot
1
$577,500 For Sale
9399 Prickly Holly Place
La Plata, MD 20646
5 beds, 5 full, 1 partial baths | Single Family Home
6.13 acre lot
30
$575,000 For Sale
11318 Shannon Court
La Plata, MD 20646
5 beds, 3 full, 1 partial baths | Single Family Home
4,799 sq ft, 3.18 acre lot
24
$549,900 For Sale
6926 Trident Court
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
1.29 acre lot
30
$549,900 For Sale
6035 Bibury Lane
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
2,438 sq ft, 5.14 acre lot
4
$539,900 For Sale
6918 Trident Court
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
1.21 acre lot
29
$529,900 For Sale
10529 Spring Run Court
La Plata, MD 20646
4 beds, 2 full, 1 partial baths | Single Family Home
4,058 sq ft, 1.66 acre lot
30
$525,000 For Sale
177 Buckeye Circle
La Plata, MD 20646
6 beds, 4 baths | Single Family Home
7841 sq ft lot
1
$524,450 Under Contract
9420 Stonestreet Road
La Plata, MD 20646
4 beds, 3 baths | Single Family Home
3.2 acre lot
19
$523,000 For Sale
9356 Stonestreet Road
La Plata, MD 20646
4 beds, 2 full, 1 partial baths | Single Family Home
3 acre lot
30
$519,900 For Sale
6912 South Zelkova Court
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
4,674 sq ft, 1.19 acre lot
30
$515,000 For Sale
10065 Harmony Hill Lane
La Plata, MD 20646
5 beds, 3 full, 1 partial baths | Single Family Home
3,220 sq ft, 6.29 acre lot
30
$499,900 For Sale
1005 Maiden Grass
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
3,493 sq ft
30
$499,900 For Sale
8124 Blue Ash Court
La Plata, MD 20646
6 beds, 4 full, 1 partial baths | Single Family Home
3,569 sq ft, 1.8 acre lot
30
$499,830 For Sale
8220 Hudson Drive
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
3.47 acre lot
30
$494,900 New For Sale
8220 Hudson Drive
La Plata, MD 20646
4 beds, 3 full, 1 partial baths | Single Family Home
3.47 acre lot
28
$488,450 For Sale
149 Buckeye Circle
La Plata, MD 20646
4 beds, 3 baths | Single Family Home
3,250 sq ft, 6098 sq ft lot
29
$485,000 Under Contract
11500 Oak Hollow Place
La Plata, MD 20646
5 beds, 3 full, 1 partial baths | Single Family Home
1.28 acre lot

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

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