Home Prices Being Held Down by Appraisers & Mortgage Underwriters

Collier Swecker video blogs about how real estate agents in Alabama are having trouble selling homes at prices that ready, willing and able buyers are willing to pay. We have found that as the listing inventory in the Birmingham market decreases, demand for good housing has increased and so has the contract prices real estate agents are able to procure for their sellers. The only problem is that appraisers and mortgage underwriters have become so conservative that it seems that what a willing buyer is offering to pay for a home has become nearly irrelevant. I think that in many ways appraisers and mortgage underwriters forget that buyers essentially make the market. Any meaningful increase in home prices will only come once appraisers acknowledge that the market forces of supply and demand are forcing prices higher. Additionally, it is funny that mortgage underwriters agree with the appraisers 100% of the time when an appraisal is below contract price but often challenge the validity of appraisals when a home is valued at or above contract price. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

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About Collier Swecker

Collier Swecker is a licensed real estate broker, attorney, blogger, speaker and entrepreneur. He is the founding partner of the Mega Agent Real Estate Team at RE/MAX Advantage which ranks as one of the top selling real estate teams in Alabama. Collier also acts as a business and marketing consultant for small business start-ups.

Collier graduated from Auburn University (B.A., 1998), Cumberland School of Law (Juris Doctor, 2002) and Washington University School of Law in St. Louis (Masters of Law in Taxation, 2003). Collier was the principal partner of the law firm Swecker and Sparks LLC for 3 years before leaving the law practice for real estate development and sales.

Collier is a native of Yorktown, Virginia and currently resides in Birmingham, Alabama with his wife, Amanda Capps Swecker. Collier & Amanda are the proud parents to a beautiful daughter, Julia Abigayle. They have one dog named Kramer.

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