House appraisals

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date House appraisals HW \"Skip\" Weldon 09-22-2007
Posted by HW \"Skip\" Weldon on September 22, 2007, 10:20 am Remember that an appraisal is closely associated with what similar homes have recently sold for, and as such it does not take into account upcoming changes in prices (if any). I mention this because Reuters reported yesterday that Alan Greenspan (former head of Fed) expected "much lower" prices as ultimately we get rid of the oversupply of homes for sale. While we may have different opinions of Greenspan, I like to listen to old grey-haired dudes with tons of experience in auction markets (and who are not tied to the market in question). So regardless of what the appraisal is today, how will you feel if a few years from now houses similar to yours are selling for X% less than you paid? -HW "Skip" Weldon Columbia, SC Similar Threads Posted House vs Townhouse in NH August 7, 2007, 10:27 am Saving for a house and retirement January 22, 2008, 5:25 am How to sell house you live in? September 30, 2007, 2:00 pm buying a house without an agent February 14, 2008, 2:23 pm selling a house in houston tx, 7% tax? fishy October 1, 2008, 4:16 am Using 401K as a bridge loan for house purchase June 9, 2007, 12:02 pm Refi-ing when House Appraises below Principal Remaining March 2, 2008, 7:09 pm House Democrats contemplate abolishing 401(k) tax breaks October 17, 2008, 8:08 am