Blog Category: housing inventory

Low Inventory = Low Turnover = Fewer Comps = Appraisal Problems?

I have lately had a few appraisal problems that I hope does not turn into a trend. The inventory in the DC Metro area is at the lowest point it has ever been since these sorts of inventory statistics have been tracked, starting 16 years ago. The problem, which is far from alarming at this point, is that little inventory means there are not as many sales as there could be, which means there is not as much turnover as there could be, which means when a house does sell and the appraiser goes looking for recent comparables to support the purchase price, there may be a problem finding enough comps to support the purchase price. So what exactly does this Read More