The decline in housing inventory is usually good news for the housing market as reduced competition leads to increased sales prices. This article from The Wall Street Journal points out that while buyer demand remains weak and foreclosure inventory remains as shadow inventory, the expected increase in prices will not be seen. Read article.
One of the main obstacles to closing on the sale of a home in recent years is the fact that the appraisal to the home may come in low. As a result, the lender will deny the loan application based on “insufficient collateral”. For sellers, this news can be devastating as in many cases they … More Ten Tips For High Value Home Appraisals