Longer Closings on your Real Estate Purchases
It looks like real estate closings in Bend Oregon involving mortgage loans will be taking longer. With all of the new government regulations my mortgage lender has told me to start giving her 45 days to close escrow instead of the normal 30 days. I won't go into all the technicalities but it's just going to take longer because of the new government regulations.
In an effort to stop high appraisals there is now a system where a lender can't choose it's own appraiser but requests the appraisal from a middle man who assigns the appraiser. I have had two low appraisals out of my last 10 sales. Or you could say 20% of my appraisals have come in low.
One low ball appraisal cost my elderly clients $15,000 in order to sell their home. The market value of a property is the price that a buyer is ready willing and able to pay and the seller will accept. Not a price some over worked under payed appraiser puts on it.
Even though real estate transactions are getting more difficult it is still time to buy. There are some really good values available in Bend now. It does help to have an experienced broker help you negotiate a price and see the sale through to the end.
If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert. E-MAIL