lakes region home sales

Understanding The Appraisal Gap

When supply is low and demand is high, prices naturally rise and that’s what’s happening in today’s Real Estate Market. Home prices are continuing to appreciate at near-historic rates, which creates challenges when it comes to home appraisals.

In the last few months, it’s become increasingly common for an appraisal to come in below the negotiated contract price. This difference is known as the ‘appraisal gap.’

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