Consumers often believe that appraisals are the absolute gospel truth about a property’s value.
If the appraiser says it’s worth X, then it surely must be worth X. Not so fast.
Those of us in real estate know that appraisals are subjective and that they are simply one person’s opinion of a property’s value.
Skilled, experienced appraisers know many subtle ways to “adjust” comparable sales to come in with a value equal to the sales price.
And, appraisers are under enormous pressure to “bring in the number” on appraisals because they know they won’t see any more appraisal business if they start screwing up loans for the lender giving them their appraisal assignments.
The best indicator of a property’s value remains what we all learned in Real Estate:101 ~ it’s worth what a willing buyer will pay for it.
Atlantic Shores Realty is ready to assist you with all your real estate needs. Our website has information whether you are selling a home on the Treasure Coast or Palm Beaches or buying a home on the Treasure Coast or Palm Beaches.