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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (2835)	6/19/2002 2:33:24 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Sorry, but I'm choking on this one: <<the seller needs to be educated from an independent source as to the value of their property and not simply rely on the broker.>> Who might this independent source be? If you are suggesting spending $350 or more to hire a licensed, certified appraiser, be prepared to have a serious difference of opinion as to list price/selling price between the appraiser and the three, active, reputable real estate agents you're supposed to consult before deciding on price. I like appraisers and value their opinions....but often those opinions don't work for selling purposes. For insurance purposes, for estate-settlement purposes, OK. Problem with marketing a house based on a written appraisal is that the appraiser probably never saw the inside of the three homes he was using as comparables and may never have set foot inside one other home in your neighborhood. And he isn't necessarily in tune with what the buyers are looking for in your neighborhood--he never even talks to buyers! I've personally spent hours trying to beat back people's expectations because they are holding in their hot little hands an appraisal form (from a year ago!) that bears no relation to reality. I've also spent literally hours on the phone with appraisers who called me to get information about the condition of houses I sold, because they were now doing an appraisal on another house in the neighborhood and have no clue.