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Nesgroup address: alt.real-estate-agents - Date & Time for the message: Sat, 12 Mar 2005 11:06:29 -0500 /

Author of the message: "orangetrader"

Title of the message:
Re: How do I find out more about a particular property?

Text of the message:
OK if FMV value is the only thing that matters, than there is no need for a
bank to do an appraisal before loan approval?  I mean it will be moot, if
all it takes is a seller and a buyer come to term on dollar value (for
whatever reason), then the whole process of appraisal is totally redundant.
Who cares who the house sold next door in similar condition sold for last
week, what matters only is what someone is willing to pay for it now?
I'd admit, the banks do not come into play that much in south Florida, at
least in the houses I was looking at, most pay cash or 50. 60% down, so
appaisals rarely become a problem.  I don't know how much you know about SF
properties, but we are talking about price increases so sharp, that doing a
comp for houses sold in the last three months is no longer applicable, the
comps need to be based on houses sold within a week or two, that is how fast
the prices are changing.



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