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Gap Between Homeowner Estimates And Appraisal Values Continues To Widen

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J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
why are they running around getting homeowner estimates of value?
reminds me of mtge broker days when the amount HO thought their house was worth would be on an order
 

graindart

Junior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Montana
I didn't read the whole thing, just kind of skimmed a few paragraphs. I think the real news isn't that homeowners estimated are widening as compared to appraisers. I think the real news is that Quicken is reporting that the HO estimate is only 1.7% over the appraiser's opinion of value. That's extremely low and I have no clue how they calculated it. Have a group of appraiser's go appraise the same house on the same day. I highly doubt the majority of them will have opinions within 1.7% of each other. I'm guessing it's just another worthless glob of "data" that someone decided to graph.
 

miktay

Senior Member
Joined
Jul 3, 2007
Professional Status
Certified Residential Appraiser
State
Texas
reminds me of mtge broker days when the amount HO thought their house was worth would be on an order

Remember this phrase from the loan officers of the past? "If you can hit this number, I've got a lot more work coming your way..."
 
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