I know I have a few clients that can understand how this feels!
Home appraisals are taking longer to complete and costing more, and that is vexing home buyers, mortgage borrowers, real estate agents and loan officers along the northern Front Range.
“As the Denver real estate market has roared back, we’ve been met with a shortage of appraisers to keep up with the record number of homes that are going under contract and being sold each month,” said Anthony Real, chairman of the market trends committee at the Denver Metro Association of Realtors.
Rael’s research shows that the cost to appraise a standard home in metro Denver, which ran around $350 a few years back, is now costing closer to $600 and looks headed on its way to $800. Some of that increase reflects the rush fees that already overloaded appraisers are charging to meet closing deadlines.
Closing deadlines are getting pushed back because of the appraiser shortages and complicating life for buyers and sellers alike, and in some cases causing tempers to flare, Rael said.
Denver Colorado Real Estate Professional -Michael Steffen
Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; Denver, Arvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!