Blog Category: appraisal challenges

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Appraisal Challenges

In my experience, there seems to be a lot of confusion about appraisals. I hear a lot of misstatement about how appraisal values are determined. If an appraisal comes in below the agreed upon sales price there is usually a lot of push back, anger, and harshly worded statements about the intelligence of the appraiser. Many sellers, some buyers, and even some realtors use methodology and data that is not accurate. The reality is that there is a way to challenge an appraisal that is quite simple. Read More

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What Happens When an Appraisal Comes in Low?

When a homebuyer is getting a mortgage to buy a new home everyone seems to be on pins and needles waiting on the appraisal. When the appraisal does come in if the appraised value is below the contract price the response is usually alarm from the realtors. And confusion by the homebuyer. At that point there is a lot to talk about and coordinate. Read More

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Who Knows More About Home Values, Appraisers or Realtors?

Who knows more about a home appraisal? Realtors often think appraisers are not the most accurate assessors of real estate values. And appraisers often think realtors know less than they do. Maybe they are both right? I have had appraisers admit that a good realtor will likely know more than an appraiser about the value of a certain home. This is because most appraisers are appraising a wider geographic area a than a realtor may specialize in. Many appraisers cover a multi-state area. Whereas a lot of realtors specialize not only in one state. Also maybe only in one city or town. So, it is hard to expect Read More