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A comment on Making sense of what’s going on in the housing market. Parent comment

Re:Making sense of what’s going on in the housing market by Balgair on Wednesday April 21, 2021 @05:37PM (#26895767)
Where I am, the appraisal gap is is ~18% of the sale price. So the houses are listed at ~$450k, get 12 offers for ~$530 in 36 hours, and get appraised at ~$450. Such is the competition, that buyers have to just pay the gap outright, turning the 20% downpayment into the appraisal gap.
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