Gap Between Appraiser and Homeowner Narrow

 Appraisers Getting on the Same Page
The discrepancy between appraisers' and home owners' opinions of home values is narrowing. In November, appraisers valued homes 1.56 percent higher than home owners, according to  Home Price Perception Index. ."Mortgage financing often hinges on whether the appraised value coincides with the home values agreed upon by the home buyer and seller in the case of a home purchase, and the home owner's estimated value in the case of a refinance," says Chief Economist Bob Walters. "It is reassuring to see the gap between appraiser opinions and home owner opinions narrow, and if we had to choose a side of the fence, it makes for a much smoother mortgage process if appraisers are valuing homes above home owners' estimates like we're seeing, as compared to the opposite." Read more.