Several months back, I posted a plea for appraisal information and am doing so again today. As the Vue is making a big push with their new lender and finally having to demonstrate to their investors that they can actually close many of their pre-sales contracts, the key will be in the appraisals. If the appraisals can come in at contract price, this will change the sales dynamic and more people will be able to close.
By providing your appraisal information, you will be helping the blog provide other pre-sales buyers a general sense of what to expect. As has been the blog’s practice, no specifics are ever posted. Rather, it allows us to post statements like “we are seeing appraisals come in anywhere from 0% – 30% below contract.”
Ideally, if you are a pre-sales buyer, you would provide this info: “I contracted for unit xxxx in early/middle/late 2000x and my appraisal came in at xx% less than contract price. For my comps, they used 1 Vue unit #XXX as well as unit XXX at the Trademark and unit XYZ at the Avenue.”
But anything reasonably approaching the above will be helpful.
Until the blog receives more current appraisal information, I would not recommend you rely on previously published appraisal information as an expectation of what you will see when you receive yours.
Please provide your appraisal info or any feedback to Vuebuyer10@yahoo.com. Thank you and I know other pre-sales buyers thank you as well!