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

To: Les H who wrote (13719)	9/17/2003 4:57:36 PM
From: Tradelite	Respond to of 306849

<<Most appraisers report pressure to hit the numbers>> In light of the fact that the official definition of a property appraisal (found in the appraisal textbooks) is nothing more than "an opinion of value", this statement doesn't seem like news or very surprising. Would like a nickel for every minute I spent on the phone with appraisers who called looking for assistance, basic information, and "another opinion" when appraising a property in a neighborhood where it was clear in the MLS records that I had been the agent-of-record on a sale and probably knew more about properties there than the appraiser did. Appraisal is not an exact science, and the purpose of the appraisal has much to do with the final value given to the property in the appraisal. When settling an estate, an heir would be wise to get two appraisals and take the highest one to determine, for IRS purposes, the value of the home left behind by the deceased.