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Marilee J. Layman

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06:32 pm: The Cats Are Sleeping
ETA: I got the appraisal in .pdf form and have been looking at it. I don't think he's actually looking at comparable units, but the industry may have a wider range for comparable than I do. I'm going to skip LJ at this point and catch up tomorrow.

and I will be soon. I've been sleepy since I got up and eating didn't help. I was up doing the last minute things before the second appraiser came, and got it all looking nice. He seemed to like the condo, but measured less. About 10 minutes after he left, a Public Works truck pulled up out front and a few minutes later, my power went out. The electrical closet is on the other end of the building at the back, so I walked down the sidewalk to the other end and yelled. He poked his head out from the back, checked his list, and found he'd turned the wrong one off. He turned it back on and then turned off two in my building. Probably not a good sign.

I called the first appraiser and he said he couldn't go over the appraisal unless the lender gave me a copy, which would be proof that they wanted me to have it. So the lender is in the process of scanning and emailing it to me. He did tell me that the condo like mine in our development sold for $11K less than he valued mine. This is kind of frustrating -- I paid $80K in 1991 and now it's worth $100K. I believe it will go back up, like crashes always have, but this is disappointing.

I watered the mum and filled the feeder and am almost done with the laundry. No mail today, which means the driver probably only brought first-class mail. I don't get a lot of that these days. And the catalogs are starting to fill my mixed-paper recycling bin.

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[User Picture]
From:green_knight
Date:October 30th, 2008 11:28 pm (UTC)
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I am astonished at the stability of your housing market. If you had bought something in the UK in 1991 for £80K, it would now be worth at least £150K, and that's *with* the crash. And even at the current exchange rate, $100K won't buy you a studio flat unless it's in a really, really dodgy area somewhere in the sticks.
[User Picture]
From:mjlayman
Date:October 31st, 2008 04:08 am (UTC)
(Link)
Oh, two years ago, condos like mine sold for $320K. The city still has mine appraised for $187K this year (good thing they have the plan for people like me not to pay taxes). So it's not stable in any sense of the word. It gradually went up, then dashed to the $320K and in the last two years dropped down to $100K.

Part of the problem in my area is that lots of people moved out here to get bigger houses and then lost their jobs and the houses are now selling at foreclosure for small amounts. Part of the problem is that the county around my city and my city are hostile to Hispanics and have scared many of them out, even if they couldn't sell their homes. And part of it is just the crash.
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