Can the appraiser condition the terms of the sale by Reconditioning the house, and including the HOA dues for a year or two, buy-down the mortgage rate for the buyer, accepting the smelly cesspool, erecting a sound barrier between the r/r way yards. That’s the way several of the closed sales strengthened their prices.
As is v as proposed will make a difference But will the lender allow it. Who is your client?

Did you ever get your faced slapped, maybe you didn’t date a classy enough girl.

Please find better verbiage. YOU did not “CUT VALUE”.

I agree. Verbiage needs to change!! We offer an OPINION ..
This is more of us perpetuating the BAD APPRAISER garbage

The markets always in FLUX, Use all your tools at estimating the value. Remember demand v supply is always critical. Our MLS’s provide wonderful features to illustrate our positions.

Define the problem first; is it todays estimate, or tomorrows.

It’s a clever marketing play from a flat rate realty company. It’s an easy read and good for new people.

10. Blame incompetent realty for both listing too high, and the buyers agent for walking a buyer in too high without proper price negotiation. If you have to find a new lender, it’s probably a good idea to find a new realty agent too.

Where I’m at buyers are falling over each other for a buy, they’re coming with 50k cash over value up front in contractual terms. The thing is, they’re all coming here from NY and CA, moving stacks of cash. It would not be surprising the other side of that coin is falling expectations in big cities.

I have.

Often involves appraisers making rote adjustments and not following many other appraisal principles as well.

Fortunately its rare-relatively. Its more frequent in divorces, or estate tax appraisals. Lets not pretend it doesn’t exist.

I don’t like the way CoreLogic bandies the term around either. Its misleading. Their metric for determining high or low appraisal is also infantile and amateurishly facile.

BUT sometimes appraisals do come in lower than market value. When they do, it needs to be acknowledged. Corrected if possible.

Considering in the past 7 days I’ve cut value by over $1,000,000 (purchase price / appraised value) this article is good timing (one was by $350,000). It normally goes like this, the property is listed by the agent ($1,200,000 to $1,250,000), and then gets bid up by $100,000+ when every offer states they will beat any other offer by $10,000. It sounds like a fun game that every one gets to play and yes every party knows the truth, but the real truth is that the appraiser gets screwed out of time and money both during the initial process, and post process (Tidewater / Reconsideration of value, etc.).

Considering the author states “Very rarely. Since we started NestApple in 2017, we have not seen or even heard a single instance”, I’m glad this shitshow of a process serves no other purpose then to waste millions of manhours from the appraisers over the decades.

Seeking the truth, knowing the truth, and then lying to the appraiser about how you think the value is $100,000 higher from 3 days prior (DOM), what a bunch of puppets on strings we are.

And in the 1930s thru the 50s Realtors sold properties with contracts of sale which were still available thru the 1970s what a mess that was. The C.A.R. campaigned against those contracts and many were found Illegal.

Just think when those tranches of trust deeds bought by the Chinese several years ago are taken back to china in foreclosure, what will our politician do?. The Japanese had all those trophy properties and they had to leave them here in the good old USA.

The Chinese are having financial problems and those bonds and investments are not as popular as they were. IS ANY of your retirement involved?

My experience was in appraising only for 57 years in California, Arizona, New Mexico & Nevada, some of those years I had a brokers license some I had an appraisers license. Many years no license was required

Thank you!

Its a well written article. The one other step the author left out was going back to the seller and asking them to finance the shortage or gap amount.

Afterall, THEY are the ones that priced the property above it’s supportable market value. Second Mortgages or deeds of trust were common in the 1950’s and 1960’s before conventional 90%-95% loans became widespread.

Sellers can carry the paper themselves OR they can immediately discount it (say 50% for a new unseasoned 2nd TD) and sell it to investors that specialize in them.

The article attempted to intelligently explain options OTHER than attacking the appraisers through regulators. We should (IMHO) support authors who make the effort to educate sellers and buyers.

Is their such a thing as an OVER listing which has been reduced 5 times, still with no interest? Is their such a thing as a low sale which sold to a relative? Does anybody verify?