Do you feel like you need to be praying to the appraisal gods so you will be able to sell your home? Unfortunately, we have been seeing a lot of appraisals come back low in the last few months. Buyers and sellers are agreeing to higher prices, but the appraisers are keeping prices artificially low by not giving the homes current market value. They are basing the value off of winter sales that are foreclosures. This can be very frustrating for both buyers and sellers. We are not seeing this all over the Houston area, just pocket neighborhoods here and there.
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