[olecapt]

Originally Posted by Chest Rockwell

That's funny, because a couple years ago, you had to pray the appraiser would go high enough so you could get financing for your ridiculous asking price!

Eric Young - I loved your work with the Dodgers, Rockies, Cubs and Brewers as a speedy second baseman!

Appraisers shoot behind the duck. Inherent to one degree or another in the process. Eric and I and other good agents develop an ability to project how scared the seller is. One reason why I try to never let a seller of mine get near a buyer's agent. So we can often drive the price 3 or 4 percent below where it ought to be. Particularly easy if you buyer likes a couple of places. So I generally expect the appraisal to be at least 5% and often 7 or 8 percent above the accepted offer.

[cbell74]

Originally Posted by Eric Young

I'd put the over/under at 210 and I'll take the over...with a side bet at 219.

Just because I can't imagine someone 210 while two comparables nearby are asking 150 and 175 - assuming they aren't completely banged up - that doesn't mean the appraiser won't give you a 210 value.

I have mine listed at 210. The main reason being is nothing is moving in my area and I am most likely just going to take the appraisal that is offered at the end of the month. If I had to sell this place, I would definitely drop the price. I am pretty thankful that my organization offers this option to employees.

I did hear from my realtor that the 150 home is in horrible shape and I know the 175 is a bank repo property.

Your bet of 219 is actuallly what the Zestimate is. If they offer me 219, I will be elated.

[Eric Young]

And you'd probably be pretty happy with 210...

$60k should be more than enough to make the 150 house the mansion of the street.

Wish you the best - please let us know.

[cbell74]

I finally got the two appraisals for my property, and needless to say it was a major wake up.

The first once came in at $173,000 while the second was $178,000 for an average of $175,500.

This is $16,000 (8%) less than Zillow and the number is near the listing for the repo on the block.

So, if anyone would like advice on losing around 25% in two years, just ask me.

Ugh...

Charles

[airics]

what size house is this

[cbell74]

Originally Posted by airics

what size house is this

1,200 square feet, two bedroom, two 1/2 bath, two car garage with a small backyard in Henderson.

[Eric Young]

Originally Posted by Eric Young

Just because I can't imagine someone [offering] 210 while two comparables nearby are asking 150 and 175 - assuming they aren't completely banged up - that doesn't mean the appraiser won't give you a 210 value.

Apparently the appraisers have gotten the memo.

Have your agent review both appraisals carefully. I often have to challenge appraisals with my short sales (although I'm doing it to get lower appraisals, not higher - and I've never tried to challenge two appraisals).

I think Albertson's has a special on Mylanta, Charles. If that doesn't do the trick, Lee's always has some brand of tequila on sale.

[airics]

the appraisal's sound about right for this economy... appraisal approx $150 sf