Well, first it is important to realize an appraisal is simply an professional "opinion of value". Ideally an appraisal should keep in step with an accurate sales comparison report, to a certain degreee. During the past several "refinance years" appraisals had gotten so "out of whack" and in some cases out of touch with reality. They didn't necessarily carry any weight, but, this is what the lenders like to use to justify value. Right now, the market is undergoing an extreme "valuation correction" in some cases, depending on the local area. The appraisal still may not hold water, depending on who the appraiser is working for. Is he/she working for the lender or the homebuyer?

You may want to request a 2nd opinion, if you feel unsure. You should have that option.

Jc,

Housing prices have dropped. It's not uncommon today to find out your home apprasial will come back for less than you purchased your home for. This is more common for people who have purchased a home in the last 5 years and are now trying to sell.

It depends on what you are getting the apprasial for, refinance, presell, contract on home. Normally the apprasied value will be fairly close to the sell price. Where the problem comes in is where a seller thinks their home is worth more than the market value. If you need to find out what your home is worth I will be glad to set up an appointment and go over market value and trends with you.
Curtis
404-405-6713