Skip to main content

Homeowners and Appraisers in Greater Agreement on Valuations

Phil Hall
Nov 15, 2017
The gap between homeowner and appraiser opinions on home values continued to shrink, according to new data from Quicken Loans

The gap between homeowner and appraiser opinions on home values continued to shrink, according to new data from Quicken Loans.
 
During October, Quicken Loans determined that appraisals were an average of 0.99 percent lower than the homeowners thought they would be on a national scale. This is the fifth consecutive month that the differences of opinion have narrowed. But despite the differing opinions, appraisal values continued to rise by an average of 0.71 percent in October; on a year-over-year basis, home values were up by 4.76 percent.
 
“It appears homeowners in the markets where prices are rising faster than the national average—like Denver, Seattle and San Francisco—are continuing to under-estimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate,” said Bill Banfield, Quicken Loans’ Executive Vice President of Capital Markets. “On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”
The gap between homeowner and appraiser opinions on home values continued to shrink, according to new data from Quicken Loans

 
Published
Nov 15, 2017
FormFree Enters Deal To Offer Products to Lenders One Members

Mortgage Cooperative Hopes Automated Borrower Verification Tools Will Enhance Customer Experience

Industry News
Aug 03, 2021
AHP Servicing Names Charles Halko Jr. CFO

Brings 30-Years Of Experience to Chicago-Based Servicer

Industry News
Aug 03, 2021
Ready Capital Announces Deal To Acquire Red Stone

Real Estate Finance Company Expands In Multi-Family Affordable Housing Sector

Industry News
Aug 03, 2021
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021