Dear friends,
In our current market, where prices are once again “mostly” higher than they were last year at this time, and many towns still have a decrease in inventory year over year, I have had some nervous calls from clients about appraisals.
Recently, I was interviewed by RIS Media, a leading real estate industry publication. For an article entitled: Home Appraisals: Almost Always Uneventful, Until They’re Not.
Since a competitive market means asking for an appraisal contingency in your sale contract is ill-advised, here are a couple of important points to note from the article:
- We encounter under-appraised properties most often when there aren’t enough recent sales in an area, or when an appraiser is unfamiliar with some of the best comps or nuances…or when there is more uniqueness, as in a waterfront property.
- Appraisers aren’t permitted to assign more than a stated amount for even the most over-the-top amenity, so they have a cap on costly features, no emotions involved.
- If a property under-appraises, buyers may go to the lender and insist they send out another appraiser who is more familiar with the area. And your agent should certainly help make the case…
Have a look below at two extraordinary available Westport properties, and, as always, check out the detailed market reports too.
My best wishes for a wonderful Thanksgiving, and for peaceful days ahead.
My best regards,
This turnkey home is being offered in as-new condition by the builder-owner. Prepare to experience the extraordinary at this significant Modern estate, custom-crafted by Skyview Builders. The 2+/- acre setting in the prestigious Coleytown area, adjacent to the Paul Newman-Poses Nature Preserve, affords the home with exquisite privacy…
This enchanting restored Tudor is a crown jewel. Enjoy water views, steps from downtown Westport. Set up and back from the scenic Saugatuck River, this c. 1934 masonry home is replete w/every amenity for luxurious and comfortable living. Extensively remodeled, a complete re-envisioning of this gem resulted in a modern, chic home blending today’s style and convenience with the unmistakable character and authenticity of the original masterpiece…
Shout out to this NY style pizzeria that opened during Covid – such a cheery, comfortable place to grab a bite and a nice glass of wine, super casual but still feels like you’re dining, with a friendly staff, a great a varied menu of scrumptious Italian bites and delicious gluten free pizza that’s my personal favorite. This group clearly knows what they’re doing, they also own Organika Kitchen and Quattro Pazzi, two other favorites.
@PizzaLyfe.CT | 833 Post Road E, Westport, CT
PizzaLyfe.com
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Joni Usdan of The Bross Chingas Bross Team
355 Riverside Ave, Westport, 06880