Jeff outlines the myriad factors that have contributed to the hodgepodge of appraisal protocols in place since the onset of Covid, citing the procedural disparities required by different agencies before an appraisal can be done. These disparities create excessively long waiting times and slow the process considerably, as this service is a compulsory part of completing home sales. He also looks into the conundrum of the Fed artificially keeping the rates low to stimulate the market. Because rates are low, it overstimulates the buyers’ market, which drives up prices due to the lack of properties to sell. There are not enough houses currently being built as well, adding to the market shortage. What can the Fed do to taper the rise in real estate prices? Joining Jeff this week:
- Gentille Chhun (Realty One and the Lifetime show, Marrying Millions) offers advice for buyers and sellers in this multiple-offer market.
- Radio GM Mitch McClellan of KMET talks about the pulse of talk radio post-pandemic.
- Jennifer Conrad (Malibu Funding) explains what Loan Officers do and why we need them.