It's entirely possible that the value you received is what the market is supporting right now. If there was a foreclosure or a short sale in the area, this could bring your value down considerably. Values are ever changing with the sale of homes in the area. Six months down the road you would more than likely get an entirely different value. You could ask for them to request the appraiser to take another look, but I highly doubt it would change. Good Luck!... more
You can expect to see an endless range of evaluations from different people over the next two years. Some people might say housing should go down, and some up. It's impossible to say what the percentage change each evaluation would be.
It's my evaluation that the primary markets along the coastal cities will continue to lead the rebound with another 10-20% of gains over the next two years. Much of that is driven by foreign interest and monetary stimulus. As we go into secondary and tertiary markets or just away from the coasts, I see gains being more subdued, probably in the 0-10% range as interest drops in those properties and fewer buyers can qualify for loans to take advantage of the stimulus.
Of course, there are always going to be pockets that jump far away from that range. Just watch any oil or coal producing area.... more
Depends on the price range and how many sold comps are available. I reciently had an appraisal that was $1000 short. If it had been $10,000 I wouldn't of thought anything about it, but $1000 give me a break.... more
Hi Arianna, I would recommend finding a realtor who is able to search the MLS for you to see if a seller financing situation is available in your area. You can also check for sale by owners via various websites whether craigslist.org or forsalebyowner.com. Many sellers these days would rather cash out I'm sure, but maybe there's a few here and there who might be willing to do seller financing. Best of luck!
Caroline Sells The City LA... more
The primary place to look at Comparables (Comps) to see what a similar home sold for in that area. Then you make adjustments both up and down to see where the true value lies. There is no definitive way to find the value of a property other than this because the Asking Price could be very high, a little high or spot on.
I'm not sure specifically regarding Anchorage, but the Greater Louisville area as a whole has probably seen about a 3% decrease in home prices. It would be best to have a Realtor pull some recent comparables for you in the specific area that you are targeting.... more