My New Blog

Here is my forecast for 2022 Real Estate Market.

There continues to be an oversupply of buyers to the market and a shortage of available home for purchase.

The First quarter or first month of 2022 interest mortgage interest rates will drop to continue the Purchase and Refinance Markets. 

Lenders are offering pay bonus for experienced staff support in Dec 2021 so expect another year of record sales of homes and refinance of existing loans for lower interest rate loans.

Lenders are considering Desktop Appraisal Products for home purchases which is designed to speed up the appraisal process - but I dont think a desktop is faster if it involved added scanners/inspectors into the field, while the appraiser stays in front of a computer observing the property via a cell phone video camera. But it might work to some degree to lessen the overall workload of appraisals to be completed by the current shortage of appraisers left in the field. 

My appraisal business will continue to deliver Nothing but the Rush assignments which are full inspections by the appraiser. I inspect at noon and deliver the full report in 3-4 days or less not weeks from now.

Most appraisal firms will be back logged with weeks or months of appraisal work as it has been in all of 2021 to the present. Hopefully the Desktop Appraisal Assignments will help the process in 2022.

Contact me if you have a real estate need or question that just needs to be answered.

Tom Melville
California Real Estate Broker / Certified Residential Appraiser
41 years professional licensed in California Real Estate since 1980 to the present.