Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Washington > Seattle area
 [Register]
Seattle area Seattle and King County Suburbs
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-01-2008, 01:16 PM
 
14 posts, read 92,154 times
Reputation: 21

Advertisements

One year ago a home appraises for $680,000 in the Carnation area. The supposed appreciation rate in the area is 5.3%. A recent appraisle of the same property comes in at $510,000. Can some educated individual help with the calculations. Or better yet a good real estate attourney.

Last edited by bigbyrd; 02-01-2008 at 01:18 PM.. Reason: spelling
Reply With Quote Quick reply to this message

 
Old 02-01-2008, 01:44 PM
 
Location: Edmonds, WA
121 posts, read 536,391 times
Reputation: 58
My uneducated opinion is that it has a lot to do with one of the major underlying causes of this so called "subprime mortgage meltdown". I think the practice of appraisers valuing property at whatever value it needed to be in order to get the deal done for the lender was far more previlent than we want to believe. Now that those constraints have been tightened down...I think people will be shocked how inflated some of their values may have been during purchases and especially re-fi's in the recent past.
Reply With Quote Quick reply to this message
 
Old 02-01-2008, 03:59 PM
 
3,695 posts, read 11,379,756 times
Reputation: 2652
Not the new math - just good old supply and demand.
Reply With Quote Quick reply to this message
 
Old 02-01-2008, 04:14 PM
 
5,595 posts, read 19,060,095 times
Reputation: 4816
In all likelihood, bigbyrd, the 5.3% appreciation rate you quote is an average taken over "X" number of years. This doesn't imply that each year, the prices of real estate will definitely go up 5.3%. It's similar to when they say the average rate of increase in the DJIA over any 10 year period is about 7-9%. As we all know, that doesn't assure that the stock prices will go up that much each single year.
Reply With Quote Quick reply to this message
 
Old 02-02-2008, 10:21 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,846,096 times
Reputation: 6438
170 x 4 = $680...170 x 3 = $510....There is a 25 ($1700,000) percent difference between the 2 appraisals.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Washington > Seattle area
View detailed profiles of:

All times are GMT -6. The time now is 12:15 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top