Central Oregon Appraisers are Very Busy
Bend Premier Real Estate is fortunate to have Erik Chapin, one of our Premier Brokers who is also a licensed appraiser, as an expert on the appraisal business in Central Oregon. According to Erik, Covid-19 has had a dramatic impact on appraisals locally.
Erik typically operates with a lead time of 4 weeks to complete an appraisal. At this time in 2019, he averaged twelve appraisals a month. Last week over a three day period, he received ten appraisals on top of fifteen he already had. He is working six to seven days a week and is having a hard time keeping up. There are a number of reasons why there is such a backlog:
Why Are Central Oregon Appraisals Backlogged?
1) Low interest rates have encouraged…