Homeowners feel like their homes are worth more than what appraisers say they are, and the gap between the two\u00a0estimated values has grown\u00a0for the sixth consecutive month, according to Quicken Loans\u2019 National Home Price<\/a> Perception Index.<\/p>\n Read more<\/strong>: Owners, Appraisers Aren’t Seeing Eye-to-Eye<\/span><\/p>\n<\/blockquote>\n Appraised values were, on average, 1.93 percent lower than what homeowners expected, according to the index. Appraisals are drifting farther from owner estimates, even though their assessments continue to rise higher each month, the index shows.<\/p>\n \u201cIt\u2019s important for consumers to see the HPPI and not only think about the difference in perceptions, but the different perceptions across the country,\u201d says Bill Banfield, Quicken Loans<\/a> executive vice president of capital markets. \u201cHome values, and home value changes, vary widely depending on the city you\u2019re in. Homeowners, and those looking to buy a home, should keep a close eye on their local market to better understand home values in their area.\u201d<\/p>\n For example, in Denver and Dallas appraisals are nearly 3 percent higher than what homeowners expect. On the other hand, in Philadelphia and Baltimore appraised values are more than 3 percent lower than what owners estimate.<\/p>\n Source: Quicken Loans<\/em><\/p>\n<\/div>\n<\/div>\n [ad_2]\n
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