Home Came In $40,000 BELOW VALUE - Low Appraisal Guide

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[TT-cogj]

Appraisals across the board are coming in "lower" . We've had to adjust our loans recently to this trend. And for me personally, I've placed an offer on house this week for $50K less than list. There are no comps to support the sale price. My Offer was declined and not even countered. But the seller may now have a realization that their house is not worth the list. I encourage buyers to start making lower and better offers to get sellers at the correct price point if the property is overpriced priced.

[Nomarii]

This is an amazingly timely video for us.
We were under contract, hit some snags but worked through them. This deal has been dragged out for a couple months through no fault of ours. We knew when we didn’t hear anything for a week that something was wrong with the appraisal.
The appraisal came back $40k under contract price. Home has been on the market for almost a year with no offers. Seller won’t come down to appraisal price so we’re walking. Just letting that final contingency that had extended time to close until tomorrow run out.
THANK YOU for explaining this process. Anything can happen during a real estate deal, and it’s not a done deal until you’ve signed the paperwork, exchanged the money and have the keys in your hand.

[bencortez]

During the pandemic when houses were on 🔥 I made an offer higher than what seller wanted. The appraisal came back lower than asking price and I almost lost my Earnest money had I removed appraisal contingency. It all worked out at end as the seller ultimately accepted 30K lower than my original bid. Now I’m sitting on 80K in equity from original price.

[wackman]

A video spelling out what you should look for in a real estate agent would be super helpful

[samueldarko]

The background music was hitting and then I realized its a different tune of the Pokemon center music?

[JanellE-]

You thank you thank you ! I am not a first time home buyer but learn so much from watching your Channel that I did not even know before even though we've been in our home for 9 years. You giving I'm biased opinions and are very informative and thorough. I appreciate your make it plain approach to laying out the information. I just shared your video with my church community. I hope it helps them as well. You should add a give button to your Channel I would love to sow into this great info I received

[happiness]

15:12 i will send you to work on a random constrution crew for the next two weekends lol. Thanks Javi for the knowledge ❤❤❤❤

[azrealtornick]

Good video! This will become way more common [especially in AZ) as home prices continue to slip...

[al-yd]

Appraisers should NOT be able to see the selling price, the contract or any purchase history for the home they are appraising.
The fact that they can see all that makes the appraisal very much influenced by outside factors lol

[jamesellis]

Really enjoyed the leverage discussion and chart. Thank you for making this video!

[geezluis]

Thank you for this episode! Priceless advice!

[jwake]

This video probably won't get as many views as your other ones, but it's S Tier commentary!

[danielmedina]

good stuff Javi! congrats on your growing familia!

[tandyrichae]

The pokemon music is sending me back for real

[timothythompson]

Looks like the market is starting to self correct. Appraisals are coming in low. Housing prices aren't going up anymore.

[ChivoXL]

Back when I bought my house in 2015 the appraisal came back 5k under the selling price and while the agent was like "Hey you're getting the home for cheaper!" I was irritated with the new price because now the seller did not want to cover the closing costs which was just a few hundred under 5k so savings was basically nill.

[mars]

Can you explain the difference between appraised values and assessed values? Can we use the assessed values to help us determine what a fair value is for the house when making an offer? A video might be helpful on this.

[repairshop]

A lot of houses in my area (northern nj) go under contract and then wind up right back on the market. I figured it was due to appraisals coming in very low compared to the inflated price....?

[philipv]

Come for the info. Stay for the gaming background music

[investingVS]

The banks know what's coming they'd prefer not to be the bag holders and they need to sell these as MBS's to investors for a real return now.