{"id":5288,"date":"2017-07-12T00:00:00","date_gmt":"2017-07-12T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/owners-overestimate-value-by-lower-margins\/"},"modified":"2017-07-12T00:00:00","modified_gmt":"2017-07-12T00:00:00","slug":"owners-overestimate-value-by-lower-margins","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/owners-overestimate-value-by-lower-margins\/","title":{"rendered":"Owners Overestimate Value By Lower Margins"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"42.561568627451\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"30.683921568627\"><!--paging_filter--><\/p>\n<p>Owners believe their homes are worth an average of 1.7\u00a0percent more than what appraisers say, according to the latest Quicken <a href=\"https:\/\/amazingproperty.com.ng\/blog\/fast-flexible-real-estate-loans-usa\/\">Loans<\/a>\u00a0National <a href=\"https:\/\/amazingproperty.com.ng\/blog\/tips-for-house-price-negotiation\/\">Home Price<\/a> Perception Index. Appraiser and homeowner value opinions did narrow slightly in July for the first time in seven months. In June, consumers estimated their homes to be worth an average of 1.93 percent higher.<\/p>\n<p>That schism could cause trouble for your next transaction.<\/p>\n<p>\u201cWhile a 1 or 2 percent difference in home value opinions may not seem like a lot, it could be enough to derail a <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a>,\u201d says Bill Banfield, Quicken Loans executive vice president of capital markets. \u201cA homeowner could be forced to bring more cash to closing in order to make a mortgage work if the appraisal is lower than expected&#8230; If owners are aware of their local markets it will <a href=\"https:\/\/amazingproperty.com.ng\/blog\/real-estate-lead-strategies-2\/\">lead<\/a> to smoother mortgage transactions.\u201d<\/p>\n<p>The perceptions of home values between consumers and appraisers can vary drastically across the country. For example, in the Midwest and along the East Coast, homeowners tended to have higher expectations about the value of their home than appraisers\u2019 opinions. However, in many Western markets, homeowners tended to underestimate the value of their home compared to appraisers\u2019 opinions.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_jul\/DN_quickenLoans_July2017.png\" style=\"width: 640px; height: 672px;\"\/><\/p>\n<p><em>Source: Quicken Loans<\/em><\/p>\n<\/div>\n<\/div>\n<p><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/WTRDSoTkDLo\/owners-overestimate-value-lower-margins\"> Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Owners believe their homes are worth an average of 1.7\u00a0percent more than what appraisers say, according &hellip; <a title=\"Owners Overestimate Value By Lower Margins\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/owners-overestimate-value-by-lower-margins\/\"><span class=\"screen-reader-text\">Owners Overestimate Value By Lower Margins<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5289,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[12908,543,627,127,1329,408,1007,41,818,479,15282],"class_list":["post-5288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-homeowners","tag-homes","tag-loan","tag-mortgage","tag-owners","tag-property","tag-real","tag-realtor","tag-ross"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/DN_quickenLoans_July2017.png?fit=640%2C672&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6580,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-appraisers-more-eye-to-eye-on-prices\/","url_meta":{"origin":5288,"position":0},"title":"Owners, Appraisers More Eye-to-Eye on Prices","author":"Amazing Property","date":"October 11, 2017","format":false,"excerpt":"For the fourth consecutive month, the gap between homeowner and appraiser opinions on property values narrowed. Still, homeowners tend to believe their homes are worth more than appraisers do. In September, homeowners\u2019 opinions on home prices tended to be 1.14 percent higher than appraisers, according to the latest National Quicken\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Dn 171011 Quicken Chart.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/DN_171011_Quicken_chart.png?fit=640%2C672&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/DN_171011_Quicken_chart.png?fit=640%2C672&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/DN_171011_Quicken_chart.png?fit=640%2C672&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5687,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-say-their-homes-are-worth-more\/","url_meta":{"origin":5288,"position":1},"title":"Owners Say Their Homes Are Worth More","author":"Amazing Property","date":"August 10, 2017","format":false,"excerpt":"Homeowners continue\u00a0to say that their homes are worth more than appraisers\u2019 opinions, according to the latest reading from Quicken Loans\u2019 National Home Price Perception Index. Consumers believed their properties to be worth 1.55 percent more than what appraisers said they were in July.\u00a0 That said, the gap is\u00a0narrowing between these\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"DN_QuickenLoans_index.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4507,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-appraisers-arent-seeing-eye-to-eye\/","url_meta":{"origin":5288,"position":2},"title":"Owners, Appraisers Aren\u2019t Seeing Eye-to-Eye","author":"Amazing Property","date":"May 11, 2017","format":false,"excerpt":"[ad_1] Appraisals in April were, on average, 1.9 percent lower than what homeowners expected. That means on an average home price of $236,400, homeowners misjudged their price by about $4,500. Read more: Will There Be Too Few Appraisers in 10 Years? The gap between appraiser and homeowner views on price\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Quicken_chartApr2017.png?fit=723%2C748&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Quicken_chartApr2017.png?fit=723%2C748&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Quicken_chartApr2017.png?fit=723%2C748&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Quicken_chartApr2017.png?fit=723%2C748&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":786,"url":"https:\/\/amazingproperty.com.ng\/blog\/gap-grows-between-owners-and-appraisers\/","url_meta":{"origin":5288,"position":3},"title":"Gap Grows Between Owners and Appraisers","author":"Amazing Property","date":"February 15, 2017","format":false,"excerpt":"[ad_1] The disconnect\u00a0between homeowner estimates and appraiser opinions when it comes to home values grew for the second consecutive month, according to Quicken Loans\u2019 National Home Price Perception Index. The average appraisal value was 1.47 percent below what owners expected in January. The shift comes after a six-month stretch where\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/DN_QuickenLoanstable_February.png?fit=640%2C718&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/DN_QuickenLoanstable_February.png?fit=640%2C718&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/DN_QuickenLoanstable_February.png?fit=640%2C718&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8758,"url":"https:\/\/amazingproperty.com.ng\/blog\/appraisers-homeowners-agree-more-than-ever-on-values\/","url_meta":{"origin":5288,"position":4},"title":"Appraisers, Homeowners Agree More Than Ever on Values","author":"Amazing Property","date":"June 21, 2018","format":false,"excerpt":"Appraisers, Homeowners Agree More Than Ever on Values | Realtor Magazine Internet Explorer does not currently support REALTOR\u00ae Magazine search. IE users, please download Firefox, Chrome, or Edge. Homeowners and appraisers continue to close the gap between perceptions over home values in their area. Quicken Loans\u2019 National Home Price Perception\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1806 Quicken Appraisal Chart.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_Quicken_appraisal_chart.png?fit=702%2C736&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_Quicken_appraisal_chart.png?fit=702%2C736&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_Quicken_appraisal_chart.png?fit=702%2C736&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/1806_Quicken_appraisal_chart.png?fit=702%2C736&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4967,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-appraisers-disagree-on-home-values\/","url_meta":{"origin":5288,"position":5},"title":"Owners, Appraisers Disagree on Home Values","author":"Amazing Property","date":"June 15, 2017","format":false,"excerpt":"[ad_1] 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 Perception Index. Read more: Owners, Appraisers Aren't Seeing Eye-to-Eye Appraised values were, on average, 1.93\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/6_15_quicken.png?fit=704%2C731&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/6_15_quicken.png?fit=704%2C731&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/6_15_quicken.png?fit=704%2C731&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/6_15_quicken.png?fit=704%2C731&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=5288"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/5289"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=5288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=5288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=5288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}