Thank you all for your very informative feedback. Certainly answers our questions.

As Answer #5, I have very little to add except this: appraisals rely on RECENT and NEARBY actual sales. "The price the last buyer paid" obviously guides an appraiser more powerfully than any other bit of science.

This data might be very hard to come by. Sales more than 60-90 days back might not be considered accurate enough by some appraisers or rule-makers.

A Realtor is going to search for this kind of data to guide you: matching neighborhoods, actualy SOLD homes . . . and the more recent, the better.

If you are selling, an appraisal is of little use. If you're buying with a mortgage, it's mandatory.

Feel free to visit my website: http://www.myfloridahomesmls.com/kennybraverman - you can get a pretty close idea... If you would like an exact number feel free to email me... It's no cost to provide you the information.

None of the online valuation sites are all that accurate. If the home is in a cookie cutter subdivision then they can be fairly accurate, but it is still quite common for these sites to be off 10% - 30% and sometimes even more.

Unfortunately, since the government stepped in on appraisals and HVCC was created appraisals are often not all that accurate anymore in my opinion. The problem is that appraisers are being paid so low that often inexperienced or out of area appraisers without a knowledge of the communities are doing them.

Buyers are now moving from one lender due to a very low appraisal with one, and the with the next the value comes out fine. The lenders with HVCC can no longer hire the appraisers they trust and instead it is a management company that picks the appraisers and often they get the one that will do the appraisal for the least amount of money.

I had a short sale property where there were three appraisals done all in one month using the new HVCC and the difference between the highest and lowest appraisal was almost 15%.

Sincerely,

Jeff Launiere, P.A.
Real Estate Consultant
Keller Williams Realty
813-469-3163 (Direct)
800-622-0886 (Fax)
mailto:Info@SweetHomeTampa.com
http://www.SweetHomeTampa.com
http://www.SweetHomeTampaBlog.com

Get a Free Market Snapshot at http://www.TampaMarketSnapshot.com

Professional Designations:
Accredited Luxury Home Specialist (ALHS)
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Might I suggest calling a real estate agent. They can provide a recent comparative market analysis very quickly, and it will give you an accurate picture of potential home value.

Feel free to call my office if you are interested.

Cristan
Century 21 Fisher & Assoc
cristan.fadal@century21.com
(813) 391-9240
http://www.dwellintampa.com

I believe that in reality, no one can give a decently accurate market value without seeing the interior of a home. The axiom "You can't just a book by it's cover" holds very true in real estate.

If you're looking to get an opinion of value on your own home? Contact a real estate agent (or two or three) in your area and ask for a market evaluation. These are generally offered at no charge.

If you're looking to buy a property? Same thing - contact a real estate agent in your area and ask for buyer representation. The agent will then be working for you, and as such, should provide you with market and pricing opinions on homes of interest to you.