Wow!!  Looks like that new money being pumped into the system is having an effect.  New orders for appraisal services to support sales and re-finances are up this month.  I visited last week with a man who is re-financing.  He said he was getting a 4.75% fixed rate on a 15 year loan.  Not bad.

New work is coming from all directions right now.  It will be interesting to track the results of this activity.  I am looking forward to lots of sales activity in this mix of activity.  Right now, when I complete an appraisal, I find that the most useful sales data is often in the June-July-August-September-October range, with little available sales data in the November-December-January time frame.  That was a lean time for sales.

Other than the disaster situations (overextended developers and builders, etc.), residential real estate prices seem to be holding on pretty well.  Yet, marketing time has continued to rise.  I will look at another micro market soon to see what it has to offer for insight into these interesting times.

Ralph Olsen, Appraiser

Pacific West Appraisal Services, Inc

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