2 years ago, market values hit an artificially inflated all time high. Many would be sellers are still clinging to those numbers in hopes of making a fast buck. Not always, but generally speaking, appraisals are closer to real market values than most "asking prices". With current loan fiascos galore, and a crashing housing market, don't look for appraised values to jump back up any time soon.
A house is one of, if not THE biggest single investment most people ever make. Buying at higher than appraised value will start you off with negative equity. NOT a good way to invest. God forbid anything going wrong in your life, but should events force a sale of the property any time soon, you'll be unlikely to recover your investment. There's a BUNCH of folks in this country suffering through that "upside down" equity situation right now. Go ask any of those folks what they think about paying more for a house than it's actually worth.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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