The Appraisal Game

Dated: 11/25/2015

Views: 594

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.


Please follow me on Facebook at https://www.facebook.com/RichardMcKinneyResultsTeam for updates on area listings, local events, industry news and even a few laughs along the way.

Or contact me now at 772-370-8631

Blog author image

Richard McKinney

I have been selling real estate in South Florida since 1998 with a specialization in homes, town homes and condos in St Lucie and Martin Counties. My service areas include the cities of Port Saint Luc....

Want to Advertise on this Site?

Latest Blog Posts

Lake Charles Beauty In St Lucie West

Welcome to Lake Charles, one of St. Lucie West’s premier gated communities in Port St. Lucie. Conveniently located between I-95 and the Florida Turnpike, Lake Charles is central to everything

Read More

Best Down Payment Strategies

You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and

Read More

Refinancing Myths Uncovered

“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly

Read More

Lifestyle Of An Organic Foodie

Organic food usually tastes better, and is better for you, but it can also be very expensive compared to non-organic products. Organic food can cost nearly 50 percent more, thanks to the extra labor

Read More