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Economist Ted Jones delivered some good news at the annual convention of the Michigan Association of Realtors Friday.
“Your economy is better than you think,” said Jones, the chief economist with Texas-based Stewart Title Guaranty Company, speaking on the final day of the convention held at DeVos Place in Grand Rapids. READ MORE....
NOTE: I found this to be an interesting article, being that I have personally run into issues with low appraisals this summer. More-so in the Harrison area, and not not so much in Gladwin. I had two low appraisals come in on two different waterfront cottages in the Harrison area, within one week! We disputed both appraisals, and didn't win either one. We got one appraiser to agree to update his, because new comparable solds became available right after his report was submitted. However the lender wouldn't change it's stance. The other appraiser flat out refused to update it.
In the end, both sales did close, but the buyers and sellers had to compromise in some way.... Both buyers ended up having to bring more money to closing and one seller had to drop their price to get the sale to go forward. In one case, there were multiple offers on the cottage. So, we knew the value was there.... just the timing was bad to find good sales camps.
Ivie