Tell me who did the appraisal and I can probably tell you the answer to your question.
If the county did the appraisal you pay higher taxes with a high appraisal. That could be one answer.
If the appraisal was done by a lender, lenders make more money when you borrow a larger amount.
If the appraisal was done by an agent, who knows how trained he/she is.
If it was done by an agent perhaps she/he wanted the listing so badly to beat out other agents so the agent told you a high price.
Also when was the appraisal done? A couple of years ago when homes were selling for a 25-35% more than now?
Maybe your house is larger than the others in your neighbors. Have you ever heard "Buy the lowest priced house on the street" given as advice?
There are more answers, but these will do for now. Send me your address and I will give you a FREE opinion of value. Only licensed appraisers can sell you an appraisal.
Appraisals are always "OPINIONS" of value. - Sat Jul 11 2009, 12:13