Homeowners vs. Appraisers
The ultimate housing market conflict: the homeowner versus the home appraiser. It seems the gap between these two parties is growing ever greater.
Why the conflict? Homeowners often believe their homes and property are worth more than what they are appraised for. It’s a battle that has been waged for years. Whether the homes are actually being undervalued or homeowners are simply hoping for a higher value based on sentimental value is hard to determine.
But the gap between the values the homeowners place on their home and the actual appraiser’s value is at its greatest difference. Homeowners keep a close eye on market values and nearby homes. This could be the reason behind their valuing their homes at far higher prices than what appraisers are officially saying. There is frustration as homeowners feel appraisers are not being fair with their values.
How do we fix this? Ultimately, this will work itself out. There has always been friction between homeowners and appraisers when it comes to valuing properties to get the highest price when selling. But appraisers are held to very specific regulations and are responsible for making fair and accurate appraisals to ensure the market is stable and in line with the economy. We should see more stable numbers and a smaller gap between these two parties as the economy and the housing market improve, stabilize, and return to “normal” since the crash.