Home owners get more realistic on prices

appraisementREALTORMag

Home owners’ perceptions of the value of their homes are starting to get closer in line to the opinions of appraisers.

The latest Quicken Loans Home Price Perceptions Index shows that the average appraisal was 1.15 percent lower than home owners’ expectations. In September, appraised values were 1.26 percent lower than home owner expectations — so the gap is narrowing between the two. This is the fourth consecutive month the index has moved closer in line between home owner and appraiser estimates on values.

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