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In My Neighborhood in 95128 : Real Estate Advice

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Activity 1
Mon Jul 4, 2011
Michael Cheng answered:
As much as appraisers claim to abide by professional standards, for the most part, the appraisals I've seen are no better than random guesses from a casual observer. At worst, they're totally suspect when an appraisal comes in at the exact amount of the purchase offer, down to the dollar.

Often, when you use an appraiser hired by the bank for a refinance, you'll likely get a deflated value as the bank tries to hedge their risk exposure. So, always get your own appraiser or get a referral for one of the rare good appraisers who assesses your property against properly type-matched comparable properties around your neighborhood.
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