What Happens When Your Home Doesn’t Appraise?
Last year, homes appreciated by almost 8%. Historically, homes usually rise in value by around 2% to 4%, so that shows that our market is very strong. This appreciation is driven by our extremely low inventory as well as our low interest rates, which draw more buyers to the market. More buyers and fewer homes mean that home values are on the rise. But what happens when a seller’s home doesn’t appraise at their asking price? Today I’ll share three options for dealing with this scenario.