Canceled Normalman —if a particular neighborhood’s prices are around $600,000 and the bank appraises it at $400,000, the appraisal would knock out all non-cash buyers since a bank will not give a mortgage in an amount greater than the appraisal. I’m not sure there are conscious incentives involved, but there is an effect.

Canceled Normalman —if a particular neighborhood’s prices are around $600,000 and the bank appraises it at $400,000, the appraisal would knock out all non-cash buyers since a bank will not give a mortgage in an amount greater than the appraisal. I’m not sure there are conscious incentives involved, but there is an effect.

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