It sounds like it is a moot point applejack. If the seller is dug in and if they have a backup then they are going to most likely dig in. If they are smart they will inform the backup offer about the appraisal so that they don’t run into the same issue.
If you look at the appraisal you can generally see line items of where the appraiser either added or subtracted monetary value to the comps on a feature by feature basis. If the lot substantially larger for this home then for the comp properties you can see how much the appraiser accounted for that feature. Obviously it doesn’t sound like much.
The bottom line is that the issue reverts to how much you love the home.
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As for the general market conditions, it is somewhat mixed a little bit. Out of the gates the market was very hot. It has slowed up for some properties. First off there was the group of sellers who just priced way out of whack for properties that did not deserve such pricing. Most of those homes have sat. There are alot of sellers that did this. Homes that are priced within comps and are in good shape are selling. Not at the clip as we saw in late Feb and early March though.
Still many buyers are still running into cases of certain communities having little to no listings and when a listing in that community comes on the market the homes go fast.
