APPRAISAL ISSUES CAN BE A BIG DOWN IN AN UP MARKET

Tuesday April 30, 2013 | by Jill Urban, NY1 News

Prime NYC Founder & CEO Eric Hantman gives buyers and sellers tips for handling the appraisal process in a strengthening market. He says, "The market shift and the rapid pricing increases has been affecting appraisals abecause they can't keep up... There is a three- to four-month lag time from a time when a deal is negotiated to teh time it is recorded and can be used as a relevant comp in an appraisal."