La Jolla luxury homes and Rancho Sants Fe luxury home loan appraisals not coming in where they need to be.Posted by Dennis DeSouza on
It's no secret that buying or selling a La Jolla home or Rancho Santa Fe hom has gotten more difficult recently. That's largely because of the struggling economy, which led to the foreclosure crisis and the popping of the housing bubble. There have been a lot of changes that have taken place, too, and one of them deals with the appraisals that are done in La Jolla and Rancho Santa Fe area. In areas like La Jolla and Rancho Santa Fe, the high-end real estate market is not immune to lowered appraisal values that are keeping people from buying (and selling) homes.
In order to have a home financed, it has to appraise for at least the amount the buyer wishes to borrow. In many cases, it must appraise for more, because lenders generally only want to offer 80% of…
2641 Views, 1 Comments