Why are home prices rising so fast? How are so many people offering way above the list price when making offers to buy a home? In this video, I discuss one of the BIG issues I see in the housing market 2020 and why it may lead to further problems and potentially a housing market crash in the future.
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The BIG issue that I’m starting to see in the current housing market is the use of appraisal waivers. This is allowing buyers to offer well above the asking price in many cases and not have to worry about the home appraising at the priced they offered.
What is an appraisal waiver? An appraisal waiver gives some potential home buyers the option to decline having their property appraised. Instead of someone coming out to walk through the property, the lender will use automated information based on data such as recent home sales in your neighborhood, to get the appraised value.
What are your thoughts on appraisal waivers? Are you seeing them in your market? Do you think you should accept an appraisal waiver if you qualify?
Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?
Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?
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Jeb Smith (huntington beach Realtor/orange county real estate)
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith
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