- Apr 3, 2007
- Reaction score
This will probably show how much I don't understand the current economic situation but I'm just your average American so this is what I know. I signed the papers to refinanced my townhome last week and as part of the transaction I had to get an updated appraisal (obviously). To my surprise my place actually went UP in value from 6 months ago when I purchased the place new. Six months ago the appraisal came in $15k over what I agreed to pay and two weeks ago it came in $5k above that. Same person did both appraisals. I live in a new townhome community in the greater Seattle area with about 4 or so units (out of ~50) left to sell. Six months ago there were ~25 units up for sale. What do you think happened?