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Old 04-21-2014, 12:53 PM
 
Location: Dallas/Fort Worth, Texas
4,128 posts, read 13,192,239 times
Reputation: 2527

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Quote:
Originally Posted by loveplano View Post
The appraisal came in 3% higher than what we paid. Not sure if this is good or bad ??
You should be jumping up and down. Yes this is good news. It means that you already have 3% in equity in the home today. The owner may have priced it low so it can sell very quickly or there are other circumstances that made them price low.

Naima
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Old 04-21-2014, 07:27 PM
 
Location: Port Charlotte
3,926 posts, read 4,426,419 times
Reputation: 3395
If you bought a new home and the builder is still there, if you have to sell in the next couple of years, you will likely sell for less than you paid for it due to the builder competition.

Just the nature of the market.
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Old 04-21-2014, 08:38 PM
 
Location: DFW - Coppell / Las Colinas
30,020 posts, read 34,685,876 times
Reputation: 36053
Quote:
Originally Posted by Restrain View Post
If you bought a new home and the builder is still there, if you have to sell in the next couple of years, you will likely sell for less than you paid for it due to the builder competition.
Not entirely true. I had many clients buy back in the last 2-3 years and the builder is much higher today.

New home construction has gone up 10-25% in the last 18 months. Builder increases have pulled up the price of existing homes (and push it down when times are tough).
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