are the market values listed comparable to what an appraiser would give?

Asked by Estan12, Garfield Heights, OH Mon Dec 27, 2010

we are looking to refinance but according to trulia our house is worth a lot less than we thought. I hate to pay for an appraisal if the market value is comparable to what you are saying

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Dallas Texas, Agent, Dallas, TN
Mon Dec 27, 2010
Virtual answer not to your benefit contact the lender for refi' OR if you have a Realtor friend could run comp's for you.

Huge difference with any of these websites vs. actual data. Only reliable resource is MLS used by all Realtor and appraisers

Great Question

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
1 vote
Cherrie Cata…, , Chicago, IL
Wed Dec 29, 2010
Hi Estan12,

Trulia may not be the best source to check for the value of your home. As far as values, lenders will use a conservative value of the worth of your property based on the homes that have sold in your area. This may not be what you could sell your property for. Also, the there are mortgages available to help you even if you own more than the worth of your home. Some programs do not even require an appraisal. Talk to your lender to find out what your options are. If you do not have one, I will be happy to assist.

Good luck with your refinance!

Cherrie Catama
0 votes
Jane Grant, Agent, Aguanga, CA
Mon Dec 27, 2010
Estan12: The reason that some of the "Sold" information seems so low is do to these public sites using information from the County Recorder's office. When anything and I mean anything is recorded, whether it be a trustees' deed, second trust deed, quit claim deed, that has some amount attached to it. Some public sites that cannot filter these recordings from actual "Sold" recordings mix them in to look like "Sold Amounts", when in fact they are NOT.

Ask a Realtor who belongs to the MLS to give you some comparables for recently sold properties that have your same number of bedrooms and square footage.

0 votes
Lenderbradfo…, , Cleveland, OH
Mon Dec 27, 2010
I agree with Lynn. Contact a Lender in your area and discuss your options.
0 votes
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