Short Sale Appraisal Games
October 5, 2008
Having done dozens of Short Sales here on the Emerald Coast, I have one key observation about their pitfalls. It seems odd that we hope for appraisals and Broker Price Opinions (BPO’s)on Short Sales to come in low, when on normal sales they should be at or above contract price. Banks on these short sale properties still don’t seem to understand that the market is coming down further, that appraisals are “behind” current values because they don’t show competition, and that BPO’s are just ” opinions” of value. In this Destin and vicinity real estate market, where some of the inventory times are six years– they have to start understanding that ANY offer is a good one.It’s Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
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Short Sale Pre Foreclosure Help.
Specializing in real estate sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Copyright © 2008 By Wendy Rulnick. All Rights Reserved. *Short Sale Appraisal Games* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity.
This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.
