This article from Trulia caught my attention today. Property in 2009 hit rock bottom, you could pick up a piece of land really cheap. Today’s property values have sky rocketed. Seems to be all about supply and demand. To me it seems like the banks are trying to make up the profit they have lost. A house in 2009 could be bought for 100,000, now in 2017 the asking price for that same piece of land has jumped to 400,000. These pieces of property have not had any upkeep, they have sat there empty for years, and that 1970’s home still has 1970 insides. I could see these prices if the wiring, insulation, kitchens and baths had been updated, but no they still have pink and blue bathrooms, and that groovy green carpet. So as the article says never offer more than the appraisal. Please read the article.