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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Home Appraisals Lately?
Has anyone gotten their home appraised recently? And how are they running in general? Are they still low or are things improving?
ETA: How accurate is ZILLOW.com?
Message edited 4/28/2010 3:12:23 PM.
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Posted 4/28/10 8:10 AM  |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Home Appraisals Lately?
Friends just had their soon to be home appraised and it came back 20K less than the contract price.
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| Posted 4/28/10 8:43 AM |
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laurabora
LIF Adult
Member since 4/07 2712 total posts
Name:
Laura
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Re: Home Appraisals Lately?
Just had my house appraised for our sale and though we don't know what it came in at, it must have been at least the price we are selling it for.
Two years ago we had a deal fall through because our house appraised too low.
I think it's all luck of the draw with which appraiser you get and what comps they have available at that time.
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| Posted 4/28/10 9:33 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: Home Appraisals Lately?
we started the process to buy our home in september 2009 so the home price was average for the area at that time. many issues came up with the sellers and a CO so we didn't get the house apprised until feb 2010. it was 33K more then what we were purchasing it for. we were shocked! so I would say they are coming up but I guess it all depends on the area.
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| Posted 4/28/10 10:01 AM |
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Spring Baby06
My two loves
Member since 5/05 3612 total posts
Name:
Jillian
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Re: Home Appraisals Lately?
Just had the house we are purchasing appraised and it came back 10k more than what we purchased for.
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| Posted 4/28/10 11:04 AM |
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ItsaJoya19
my cup runneth over
Member since 1/10 2949 total posts
Name:
E
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Re: Home Appraisals Lately?
the bank appraised our house at 30k more than we bought it for
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| Posted 4/28/10 12:21 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Home Appraisals Lately?
it's a crap shot based on what sold recently in the area
but short sales and foreclosures should NOT be used as a comp
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| Posted 4/28/10 12:26 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: Home Appraisals Lately?
ours was appraised for 5k more than what we are paying for it
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| Posted 4/28/10 12:28 PM |
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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: Home Appraisals Lately?
Posted by Beth
it's a crap shot based on what sold recently in the area
but short sales and foreclosures should NOT be used as a comp
Right it always comes down to the comps! UGH
So should be keeping an eye on recent sales and maybe plan my appraisal on an upswing?
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| Posted 4/28/10 3:10 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Home Appraisals Lately?
the comp sales used are the last 6 months with in 1 mile - then adjustments are made for bathrooms, Gross adjusted living area, basement, finished etc-
what's the appraisal for?
I don't find Zillow accurate - I have done alot of comparisons for investors and it never matches MLS
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| Posted 4/28/10 3:27 PM |
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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: Home Appraisals Lately?
Posted by Beth
the comp sales used are the last 6 months with in 1 mile - then adjustments are made for bathrooms, Gross adjusted living area, basement, finished etc-
what's the appraisal for?
I don't find Zillow accurate - I have done alot of comparisons for investors and it never matches MLS
 Im confused lol
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| Posted 4/28/10 3:49 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: Home Appraisals Lately?
zillow is NOT accurate. It *can* be, but its often way off.
I've found most lenders now want at least 1-2 comps sold within the last 90 days. Spring sales will start to have a positive effect on appraisals. (winter typically has lower values and less houses sold).
But it all depends on the comps in your area, and how your house compares (and the appraiser - after all is said and done, an appraisal is only an OPINION of value, and that opinion can vary from one appraiser to another)
Message edited 4/28/2010 5:04:12 PM.
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| Posted 4/28/10 5:02 PM |
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mikeandjess
LIF Adult
Member since 10/07 2278 total posts
Name:
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Re: Home Appraisals Lately?
our house appraised at the exact price we're paying
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| Posted 4/28/10 7:08 PM |
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rose825
Best Friends
Member since 6/05 10228 total posts
Name:
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Re: Home Appraisals Lately?
Posted by mikeandjess
our house appraised at the exact price we're paying
same here
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| Posted 4/28/10 7:35 PM |
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