Real estate appraisals are totally subjective and often are not an accurate way to determine the value of a property in some markets. Since the recent sharp decline of property values and the new loan guidelines by lenders, not even the most professional appraiser can any longer say with absolute certainty what a property is worth. Real estate appraisers can and will give a subjective value for what a property should be worth, but even these numbers are open to scrutiny.
Because of infrequent sales, the offering prices of homes in some areas of the country are sinking faster than homes are selling. So anyone looking at comparable sales is seeing sales from months before that traded well above what a similar home can be bought for currently. This phenomenon occurs View the rest of this article
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