Strange Timing

Looks like we haven't been the only ones impacted by bad appraisals. Turns out our realtor's office has had 5 low appraisals this week alone! The Seattle Times had an article about the situation as well. Looks like its become a national issue and is slowing home sales.

Timing is a funny thing with houses. 2 years ago, Paula and I had to pull out of the housing market because of the uncertainty with Paula's residency and where we would end up. That's after making 4 offers on houses that we may not realistically have been able to afford. So, God hooked us up there and the timing worked out perfectly for us to buy in a depressed 'buyers' market. However, just as we make an offer, we get on the front-end of a crazy increase in mortgage rates and weren't able to capitalize on the really low 4.75% interest rates that were steady for a couple months. Now, we're on the front end of a really crappy appraisal issue that's slowing down sales and/or terminating contracts. At least we've been on the front of these issues and not at the pinnacle of them.

Moral of the story: Life is funny and timing is everything...I guess.