Working for a relocation company, I’m privy to real estate trends in a variety of markets across the country, as well as the country as a whole. Surely, housing numbers are constantly fluctuating, but if you look at patterns over longer periods of time, they can tell you something important. Real estate has been my business for the past 25 years, so I’ve sailed through the ups, weathered the downs and managed through everything in between. That’s why I try to put housing numbers, and policies, into a broader perspective. Essentially, what is good for today may not be good for tomorrow – and if it’s not good for tomorrow, are we really any better off in the long run? And is it important if we are?
If you are relocation manager, you are probably bombarded with the question: Why is my buyout amount so low? And, of course, you’ve handled accusations that the appraisers are “in your service provider’s back pocket.” While there are many factors that influence the appraised value, the biggest culprit for lower than expected valuations is the forecasting adjustment tool.