It has been a while since I last posted on Hohman Appraisal Blog. The work volume since March 2015 has been quite strong. Most of my time has been devoted to preparing quality appraisal reports and delivering them on time to our clients.
In the last three to four weeks, we have noticed a decrease in the number of lender assignments from VA lenders, FHA lenders and conventional loan lenders. The Fed has been talking about an interest rate increase for months with likely implementation in mid September. I think that the fear of an increase drove many buyers and folks looking to refinance to take action before the Fed could raise the rates. This drove the very strong market experienced throughout the summer. However, now demand has softened as the fear of an interest rate has diminished. The Fed is now saying rates may increase in early 2016. We'll see. The interest rate threat has been going on for many years. More on that in a future blog.
Well, this is one appraiser's opinion of what is going on out there in the Polk County residential real estate market. What's yours? Let me know. I would like to hear what you think is going on.
Thank you, we'll be in touch!