Daniel Lloyd, Real Estate training (Issue Records)

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Rainmaker
2,424,079
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
4,055,464
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

No real relation between the two.

Dec 11, 2018 10:31 AM
Rainmaker
5,264,096
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The approaches are not perfect. 

Dec 11, 2018 10:24 AM
Ambassador
2,344,389
Fred Griffin presently on Leave of Absence
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
984,364
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
552,414
Peter Mohylsky, SoWal Is HOME.
PrimeSouth Properties - Santa Rosa Beach, FL
Let me help you find your path to the beach.

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
3,240,930
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Size matters I have been told.

Dec 11, 2018 10:00 AM
Rainmaker
1,505,122
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

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
2,974,333
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill 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
982,809
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
1,564,132
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Our appraisers are usually right on.

Dec 11, 2018 12:08 PM
Rainmaker
4,313,288
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
1,211,014
Ryan Huggins - Thousand Oaks, CA
www.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
Rainmaker
2,763,564
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Study hard ... 

Dec 11, 2018 04:50 PM
Rainmaker
650,951
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
4,869,353
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

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

Dec 11, 2018 01:34 PM
Ambassador
3,185,357
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

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
743,532
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
Rainer
409,543
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
3,167,411
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
Ambassador
1,611,684
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
3,066,352
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
4,020,293
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
4,796,501
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
2,942,028
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's 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
4,431,983
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
1,935,438
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
1,025,822
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

No idea.

Dec 11, 2018 07:20 PM
Rainmaker
1,449,343
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Great answers. 

Dec 11, 2018 06:47 PM
Rainmaker
3,977,611
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