Appraisals can be the make-or-break moment in a real estate deal—especially in a declining market. 📉 Here’s what to keep in mind:
- Comps may lag. Appraisers look at past sales, not current listing prices. If the market is trending downward, your home may appraise for less than expected.
- Condition counts. 🧼 Make sure your home shows well. Clean, decluttered, and well-maintained properties often appraise higher.
- Negotiation may follow. A low appraisal can trigger price renegotiations or even kill a deal. Be prepared with recent comps and a trusted agent in your corner.
Knowledge is power in a shifting market. The more prepared you are, the smoother your deal can go.