What is one common assumption that consumer do when looking at their home evaluation?
Through the years of financing mortgages the common assumption is that consumer feel that if the neighbors house sold down the street for X dollars their house would be worth more because of square footage or because they have put in new carpet and replace an existing carpet. Sometimes what you are putting into your house is up keep and needed to be done and replacing a existing product with a higher price one is not going to add value to your home. What is the difference between an appraisal report or a realtors opinion? An appraisal report is done by a CRA and reviewed by a appraiser with a AACI designation. They have to use the method listed below. The realtor opinion is done by pulling off the current sales and listings in that area. If you are unsure of your house value you can ask a realtor to do an opinion so you now if you are able to look at the refinance needed or you can look at the lasted tax assessment on your property which is usually lower than the true value of your pro
