Here it comes. Anyone that was “worth their weight” as a professional in Norman real estate has told you that we would be dealing with appraisal issues this year. “What?” you may ask. Well, due to the media scrutiny of the real estate industry as a whole, buyers spent the beginning of the year sitting on the sidelines. The outcome of this is the market comparable properties we have from that time are low at best.
This causes a problem now because Norman appraisers and appraisers across the country have to use “recent sales” as comparables. However, the appraisers seem to understand the problem and are working diligently with the realtors to get the deals done. Again, this is another opportunity in this Norman market for a professional to shine. Make sure your realtor knows the ins and outs of the industry and can help you through these rough waters.
If you need professional assistance or just a consultation please free to visit my website at www.JasonSellsOklahoma.com or give me a call at 405.922.2968.