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by Chil on February 23rd, 2010

Chil

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My property was appraised at $199K but realtors tell me it will sell between $120-$130K. How can the appraiser and realtor be so far off?

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  • by Robogirl_roboguy_robodog_robocat_in_2030 on March 2nd, 2010

    Robogirl_roboguy_robodog_robocat_in_2030

    The appraised value is artifically high due to the bubble. What people are willing to pay is fair market value, not inflated bubble prices.

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  • by TMSG on February 23rd, 2010

    TMSG

    Who did the appraisal? Are you referring the assessed value for Property Taxes? That is just based upon a formula that the county uses. Their values can be WAY off. Where I live, you can get the county to use the Realtor's values if they can provide documentation (comparable homes that have sold) and lower your taxes.

    If you hired a firm to appraise your home, there shouldn't be a big difference in value. Get the documentation that each uses to back up their valuation.

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  • by OldCW wears The COAT of the Cosmos on February 23rd, 2010

    OldCW wears The COAT of the Cosmos

    There are several possible reasons. Wellduh covered one of them, but another is that the realtors are trying to get you to price yoru house low so that they can sell it quickly and get the commission.

    You should find out what comparable houses in your area sold for. And btw, people almost always see their house as more special and unique and worth more than everyone else's. You need to avoid doing that.

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  • by Wellduh on February 23rd, 2010

    Wellduh

    Most likely it is because the Realtor knows that people won't pay the price the house is worth in this economy. The Realtor isn't saying your house isn't worth the appraised price, just that people won't pay it.

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