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Old 03-04-2009, 08:58 PM
 
Location: Charlotte
77 posts, read 216,534 times
Reputation: 14

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Just refi my home. My appraisal was up $25k over two years.
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Old 03-04-2009, 09:02 PM
 
4 posts, read 11,853 times
Reputation: 10
An appraisal means a whole lot of nothing.
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Old 03-05-2009, 08:52 AM
 
Location: State of Being
35,879 posts, read 77,052,270 times
Reputation: 22750
What area do you live in? I would expect that would have everything to do with it. The appraiser was probably using comps that reflect an uptick in sales prices of homes right around you. And I would suspect there have been no foreclosures in your immediate area.
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Old 03-05-2009, 11:15 AM
 
Location: Charlotte, NC dreaming of other places
983 posts, read 2,525,797 times
Reputation: 791
My townhouse was appraised $18K higher than what I am paying for it, which really doesn't mean anything to me. The value of a home is what a buyer is willing to pay and a seller is willing to accept. But of course the bank has to ask for one to make sure they are not giving you money for nothing.
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Old 03-05-2009, 12:38 PM
 
Location: location, location!
1,921 posts, read 2,006,723 times
Reputation: 1919
Quote:
Originally Posted by canuck941 View Post
An appraisal means a whole lot of nothing.
. . . unless it's the tax appraisal from the county, in which case you will owe more real estate tax.
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Old 03-05-2009, 12:50 PM
 
55 posts, read 221,498 times
Reputation: 58
Appraisers are corrupt as the day is long. Appraisals are made on the basis of maximizing the value of the loan when it gets securitized up the chain to some institution blessed by .gov as "too big to fail." Your household's share of bailing out AIG alone is over $10,000. Is that worth a bump in your fraudulent appraisal? Ask your kids.
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Old 03-05-2009, 03:01 PM
 
Location: State of Being
35,879 posts, read 77,052,270 times
Reputation: 22750
Quote:
Originally Posted by musicmax View Post
Appraisers are corrupt as the day is long. Appraisals are made on the basis of maximizing the value of the loan when it gets securitized up the chain to some institution blessed by .gov as "too big to fail." Your household's share of bailing out AIG alone is over $10,000. Is that worth a bump in your fraudulent appraisal? Ask your kids.
Fraudulent appraisal?
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