cathmom Posted August 4, 2012 Share Posted August 4, 2012 Have you had an appraisal done of your house lately? What did you think of the result? How did it compare to tax value? Did the appraisal seem right on with comparables you know of in your area, overinflated, or under what you thought it should be? Thanks! Quote Link to comment Share on other sites More sharing options...
blessed3x Posted August 4, 2012 Share Posted August 4, 2012 We had our house appraised 6 months ago for the purpose of pricing it correctly when we placed it on the market. We thought the appraisal was a little low, but ok and priced the house $5k less. Six months later, the house has been dropped in price and is still not sold. The market has gotten worse. Our realtor has told us that appraisals are coming in less than the contract prices- the most recent is $15k less. :confused: One problem is that the appraisers are using foreclosures are comparables. We will most likely end up renting our house out for a few years and hope that the market turns around. Anyone need a house in southwest Virginia? :D Quote Link to comment Share on other sites More sharing options...
cathmom Posted August 4, 2012 Author Share Posted August 4, 2012 Thanks for sharing! Your story is what we are afraid of. :D Quote Link to comment Share on other sites More sharing options...
LibraryLover Posted August 4, 2012 Share Posted August 4, 2012 (edited) :( Edited August 5, 2012 by LibraryLover Quote Link to comment Share on other sites More sharing options...
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