Community Corner
Sellers, Buyers, Agents Struggle with Low Appraisals
Downward trending appraisal values can create a financing gap, KARE 11 reported, citing a local agent and a St. Louis Park listing.
When real estate appraisals don't match an asking price, or even an agreed-upon purchase price, it's a problem.
Local real estate agent John Powell has that concerned about a current listing in St. Louis Park, KARE 11 reported
"A market is driven by what buyers are willing to pay for a home," says Powell. "For that appreciation to take place, we're going to need to see values come in at these higher price points. Without that we're in trouble."
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