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Daniel Lloyd, Real Estate training (Issue Records)

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Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

What the assessor says, Zillow says, Appraisers say, sellers say and opinions say all pale and fall short when the Market speaks....

Dec 11, 2018 09:55 AM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

No real relation between the two.

Dec 11, 2018 10:31 AM
Rainmaker
7,836,164
Roy Kelley
Retired - Gaithersburg, MD

The approaches are not perfect. 

Dec 11, 2018 10:24 AM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Huge.

  Neither, unless you as a Buyer fail to understand that the property taxes may go way up after you purchase a homestead residential property.  

   Read up on the 1992 Florida Save our Homes Amendment (SOH) for the explanation.

Dec 11, 2018 09:59 AM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

If the market is constant there is no difference. If the home price is losing momentum the appraised value is higher. 

You are not done with your study for license yet?

Dec 11, 2018 10:09 AM
Rainmaker
1,197,152
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

Very little difference but that is my opinion.  And this goes back to the definition of each term.  Appraised value is not worth the paper it is written on.  It is for the benefit of the banks who are lending the funds. 

Market value is what the current owner and a buyer would agree upon.  

Dec 11, 2018 10:04 AM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Size matters I have been told.

Dec 11, 2018 10:00 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

They better be the same. When a buyer purchases a house, he expects it to appraise (listing agents job).

Dec 11, 2018 12:47 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't really know what "market" value is. There is a negotiated sale price for a house and an appraisal value for the house...hopefully those coincide.

Dec 11, 2018 12:29 PM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

This would be excellent if we could put an amount or percentage to your question although all variables are possible with a leaning toward the negative on the appraised value side.

Dec 11, 2018 11:57 AM
Rainmaker
2,390,620
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Our appraisers are usually right on.

Dec 11, 2018 12:08 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Agree with Fred Griffin  and what Nina Hollander said. A

Dec 13, 2018 02:28 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It really depends on the market.  When we had a skyrocketing market, the appraisal would never be anywhere near the home's value... because it was usually 30k-50k (or more) over sale two months ago.  I set the ceiling for a particular tract one month and six months later it was now the floor of the prices by a considerable margin.  No way for an appraiser to keep up.

 

In today's market, appraisers are bringing them in 100% of the time and can usually justify going over the contracted price sometimes.

Dec 12, 2018 09:19 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Study hard ... 

Dec 11, 2018 04:50 PM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Appraisals tend to be at the contract price amount. That is all that is needed to get the loan done. Appraisals over the contract amount are few and do not affect the loan. Appraisals under the contract amount can be a problem. That problem manifests itself in the buyer thinking he/she over-offered and the loan being potentially undo-able. Further negations often ensue. The outcome could be a price reduction, the buyer contributing more funds to close a gap or a dead deal.

Dec 11, 2018 02:52 PM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

appraising is not an exact science.... there are too many variables....

Dec 11, 2018 01:34 PM
Ambassador
5,230,113
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

When the market speaks, we pray that the appraiser listens!

Otherwise, it can be a rough road ahead!

Dec 11, 2018 01:32 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

It may be worthwhile to ask an appraiser at what size discrepancy to they stop calculating?

This year there have been NO lender issues caused by the appraisal.

However, it is fun to poke at Zevil, Tax assessor JMV and BofA evaluator.

Dec 11, 2018 10:51 AM
Rainmaker
536,943
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Appraiser just valuates it at asking or just a little above.  Within 1000.00  usually.

Dec 11, 2018 04:53 PM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Market value speaks! Appraised value sometimes derail deals!

Dec 11, 2018 03:24 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Depends on how hard the appriaser wantas to work.

Dec 11, 2018 02:03 PM
Rainmaker
4,936,705
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I see so often that they are the same again like 2007 and 2008

Dec 14, 2018 06:01 PM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Depends on whether we are still in a frenzied sellers' market.

Dec 14, 2018 02:44 PM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I'm under the impression that appraised value and market value should be very close to each other.  (This is assuming an appraiser computed value, tax appraised values will differ based on local practices and assumptions)

Dec 12, 2018 08:24 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Most often teh appraisal comes right in at what the selling price is. It is rare to get a bad appraisal that is lower and just as rare an appraiser puts an actual value when the sale price is way below market value. 

Dec 12, 2018 05:20 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Not much.

Dec 12, 2018 03:46 AM
Rainmaker
2,241,053
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Had one appraiser tell me he clears the contract price but if he puts a number too much higher it raises eyebrows. So he just clears the hurdle to avoid the what's up or is someone missing something passed along under the real estate conference room table. So many of our sales are cash or land that is owner financed... no banks so no appraiser needed for any valuation. 

Dec 12, 2018 03:44 AM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea.

Dec 11, 2018 07:20 PM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Great answers. 

Dec 11, 2018 06:47 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not a huge amount lately

Dec 11, 2018 06:28 PM