Darryl Morris

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What Buyers and Sellers Need To Know About the Appraisal Gap

Why does an appraisal gap happen?

Basically, with the heightened buyer demand, purchasers are often willing to pay over asking to secure the home of their dreams. If you’ve ever toured a house you’ve fallen in love with, you understand. Once you start to picture yourself and your furniture in the rooms, you want to do everything you can to land the property, including putting in a high offer to try to beat out other would-be buyers.

When the appraiser comes in, they look at things a bit more objectively. Their job is to assess the inherent value of the home, so they’re going to study the facts. In simple terms, while homebuyers may be willing to pay more, appraisers are there to assess the market value of the home. Their goal is to make sure the lender isn’t loaning more money than the...


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What Buyers and Sellers Need To Know About the Appraisal Gap It’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals.

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The Difference in Net Worth Between Homeowners and Renters Is Widening

Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just a few reasons why, if you’re looking for financial security, homeownership should be a top priority.

The gap between homeowners and renters continues to widen. That’s because homeownership contributes massively to an individual’s overall net worth. Odeta Kushi, Deputy Chief Economist at First American, highlights this idea. “. . . between 2016 and 2019, housing wealth was the single biggest contributor to the increase in net worth across all income groups . . . .” When we look even closer at the most recent data from 2019, the average homeowner’s net worth is more than 40 times greater than that of the average renter.

The gap exists in large part because homeowners build...


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The Difference in Net Worth Between Homeowners and Renters Is Widening Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It sh...

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There’s no doubt about it—the housing market is still red hot. Nearly twice as many houses are selling above list price today when compared to the same time last year. DM me if you’re ready to sell and maximize your house’s potential.


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