Cabarrus County Real Estate Update – We have all heard that buyers are offering well above list price to secure a home with multiple offers. But are they CLOSING for above list price?
If you are obtaining a loan, the lender will need to order an appraisal. What happens if it appraises lower than what you offered? Are buyers bringing cash to make up the difference? Over the past two weeks, sellers received an AVERAGE of 101% of the listing price. Highest? 116%. This tells me one of two things –
- Buyers are bringing cash to make up an appraisal gap, or
- Appraisers are starting to give monetary value to the market.
Either way – it’s a great time to be a seller right now! Inventory is at an all time low, which is one of the factors in the increased prices. Curious what your home is worth? Find out for free, HERE
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