The well price listing are getting multiple offers and there are also multiple escrow fell outs due to low appraisals.
The appraisals seem to be a lot more conservative on appraising values, for the buyer's and borrower's benefit only. This low valuers hammer down prices, where sellers are willing to come down from the original sale price agreed between willing buyer and willing sellers. In most instances the seller is not willing to come down a lot from already down negotiated price late in escrow, due to any of very low appraisals, and buyers have to have extra money , cash, deposits, if they want to complete and close their escrow successfully . In the current real estate market, it is very important that buyers have an access to extra cash or deposits , it will increase the like hood of closing of the escrow.
You should seek a professional Realtor's help to guide you successfully through the intricacy of the current real estate market in Southern California.
Please contact me with any questions you have have and I will be delighted to help you.
Whether you're planning on buying, selling, or you just have a question, feel free to call John Vostenak, the Local Realtor at tel: 626-408-2266 at CENTURY 21 Ludecke Inc. 20 E. Foothill Blvd. #105 , Arcadia, Ca 91006. License Number: 00871958 , Licensed Since 1984
More info at http://www.johnvostenak.com