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APPRAISERS VS. SELLERS: “MY HOUSE IS WORTH HOW MUCH?”

Thursday, October 13, 2016   /   by Vanessa Saunders

APPRAISERS VS. SELLERS: “MY HOUSE IS WORTH HOW MUCH?”

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GPS always tries to get our sellers the best price that we can for their properties. But price is influenced by many factors, including market conditions, economic trends, and even political conditions such as the upcoming elections. In today’s housing market, appraising the value of a property can be difficult. One major challenge is the bank appraisal.

If prices are moving either up or down, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank.

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months.

Appraisers & Homeowners Don’t See Eye-To-Eye on Values | Keeping Current Matters

GPS Says:

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank appraiser). Especially with escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, meet with an experienced GPS professional who can guide you through this, and any other obstacle that may arise.

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 One Key, Inc. All rights reserved.

The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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