Calculating Value Industry experts explain why obtaining sound appraisals has been challenging in this unprecedented market BY DICK HOGAN
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s Collier County’s real estate inventory gets both scarcer and pricier, REALTORS® and property appraisers are using all their skills to help buyers navigate the trials of getting a home appraised due to low inventory, scarce comparable properties, and high expectations. The supply of homes is drying up largely because of an influx of buyers investing in the market or relocating here, says appraiser Chris Magher of Magher Appraisals in Naples. It’s not unusual to have a pool of 20 buyers bidding on two homes, she says, “so they’re all outbidding one another.” REALTOR® Christine Citrano of the Citrano-Batten team at John R. Wood Properties says that sometimes, there simply aren’t many houses to show a prospective buyer. “I remember several years ago, when I had a buyer coming into town to look at properties, I’d have three days when I was showing them 25 or 30 homes,” she says. “Now? I’m lucky if I have six to show them. It’s an inventory problem, pure and simple.”
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6/16/22 3:46 PM
