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Andrew Duncan, Tampa Bay's #1 Realtor and expert talks about how the resurgence of the Tampa and Sarasota Real Estate market is affecting appraisals and the challenges sellers and agents are facing. He has Arnie and David Diaz of Waterstone Mortgage as guests on The Duncan Duo Show on 970 WFLA.
They explain that appraisals are based on comparables of homes that have actually been sold within a square mile and have to be within a certain percentage of your home's square footage. The appraiser has a lot of restrictions they follow to find the perfect comp that sold within the past 6 months to fit that sales price. Since the market is moving fast, something that sold 6 months ago might have sold for higher than what it is today. Andrew reminds that if the home can't appraise, it won't sell.
Andrew also shares some Ninja tips for sellers to help them when they are getting their home appraised.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
They explain that appraisals are based on comparables of homes that have actually been sold within a square mile and have to be within a certain percentage of your home's square footage. The appraiser has a lot of restrictions they follow to find the perfect comp that sold within the past 6 months to fit that sales price. Since the market is moving fast, something that sold 6 months ago might have sold for higher than what it is today. Andrew reminds that if the home can't appraise, it won't sell.
Andrew also shares some Ninja tips for sellers to help them when they are getting their home appraised.
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.
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