the appraised value of a condo zip 94501 is usually-"normally" what %age less than actual market value

Asked by L.olly, Mendocino County, CA Thu Sep 25, 2008

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Ms. K, Home Buyer, Castro Valley, CA
Thu Nov 13, 2008
Also do NOT allow comps to be used that are six (6) months old. Comps that are 3 to 6 months old are absolutely useless because they reflect OLD prices that don't represent reality.

Comps should only be considered if they are a month or a month and a half old.
0 votes
Graclyn Gold…, , Raleigh, NC
Fri Nov 7, 2008
There is no usually a percentage; the appraised value is the value which a typical buyer should pay for the property at the time of the appraisal.

One of the most important issues involved in purchasing a property is developing an opinion of what it's worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third party opinion of a property's current Market Value. And for the small price of this service, you can give yourself "peace of mind" prior to making an offer to purchase that you're offering a fair price for the property.

Lee S. Goldstein
Licensed Appraiser
The Graclyn Team
0 votes
Pacita Dimac…, Agent, Oakland, CA
Thu Nov 6, 2008
The appraised value of any property depends on many factors. Appraisers will determine which method would best in terms of determining value. But they will always look at the most recent comps of what similar properties have sold, and they will also look at what are active.

If you're thinking of assessed value rather than appraised value, that will depend on what the owner paid for it, and when.

Actual market value is dictated by what the buyer is willing to pay for it,
0 votes
Graclyn Gold…, , Raleigh, NC
Thu Sep 25, 2008
The Appraised value is the appraiser's opinion of the vaue of your home on of the date of the appraisal. So you should be able to sell you homre for that price on that date.
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