{"id":5687,"date":"2017-08-10T00:00:00","date_gmt":"2017-08-10T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/owners-say-their-homes-are-worth-more\/"},"modified":"2017-08-10T00:00:00","modified_gmt":"2017-08-10T00:00:00","slug":"owners-say-their-homes-are-worth-more","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/owners-say-their-homes-are-worth-more\/","title":{"rendered":"Owners Say Their Homes Are Worth More"},"content":{"rendered":"

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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<\/a> Perception Index. Consumers believed their properties to be worth 1.55 percent more than what appraisers said they were in July.\u00a0<\/p>\n

That said, the gap is\u00a0narrowing between these differing opinions. In June, homeowners\u2019 estimates were 1.7\u00a0percent higher than appraisers\u2019 opinions.\u00a0<\/p>\n

There are some regional differences in price expectations. In some of the fastest growing housing<\/a> markets, such as\u00a0Dallas and Denver, appraisal opinions are coming in higher than homeowners\u2019 expectations.\u00a0<\/p>\n

\u201cThe home appraisal<\/a> is one of the most important data points in the mortgage<\/a> process,\u201d says Bill Banfield, Quicken Loans<\/a> executive vice president of capital markets. \u201cIt determines the level of equity the homeowner has and, if the owner\u2019s estimate is too far from how the appraiser views the property, it can cause the mortgage to be restructured. Our hope is that this index is eye-opening for homeowners. Their home equity could be thousands of dollars higher, or lower, than they realize. If they are aware of the perceived trends in their area it could help them better prepare for their home purchase<\/a> or refinance.\u201d<\/p>\n

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Source: Quicken Loans<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Homeowners continue\u00a0to say that their homes are worth more than appraisers\u2019 opinions, according to the latest … Owners Say Their Homes Are Worth More<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5688,"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":[15239,12908,543,3051,627,127,344,3781,1329,408,1007,41,818,479],"class_list":["post-5687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-chase","tag-home","tag-home-buying-guide","tag-homeowner","tag-homeowners","tag-homes","tag-housing","tag-housing-markets","tag-loan","tag-mortgage","tag-owners","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/DN_QuickenLoans_index.png?fit=640%2C663&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":5687,"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 "Opportunities In New Markets"","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":5288,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-overestimate-value-by-lower-margins\/","url_meta":{"origin":5687,"position":1},"title":"Owners Overestimate Value By Lower Margins","author":"Amazing Property","date":"July 12, 2017","format":false,"excerpt":"Owners believe their homes are worth an average of 1.7\u00a0percent more than what appraisers say, according to the latest Quicken Loans\u00a0National Home Price 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\u2026","rel":"","context":"In "Opportunities In New Markets"","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\/07\/DN_quickenLoans_July2017.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\/07\/DN_quickenLoans_July2017.png?fit=640%2C672&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/DN_quickenLoans_July2017.png?fit=640%2C672&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":786,"url":"https:\/\/amazingproperty.com.ng\/blog\/gap-grows-between-owners-and-appraisers\/","url_meta":{"origin":5687,"position":2},"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 "Opportunities In New Markets"","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":4507,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-appraisers-arent-seeing-eye-to-eye\/","url_meta":{"origin":5687,"position":3},"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? 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IE users, please download Firefox, Chrome, or Edge. Homeowners and appraisers continue to close the gap between perceptions over home values in their area. 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Homeowners, in general, still tend to slightly overestimate the price of their home, but not by nearly as much as they did a year ago. 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