Property appraisals

[joshuabardwell]

Just an update is anybody gives a (bleep) I got a copy of the newest appraisal today. The property was given an appraisal in early 2002 for $140,000

Housing bubble peaked in 2006 and plummeted after that. Any appraisal before 2006 is totally irrelevant in today's market.

 

[murphy1244]

I sold a house last year and the buyer went FHA with less than 5% down. I did a refi and signed papers yesterday the bank sent me their appraiser.

 

[JDgreen227]

Housing bubble peaked in 2006 and plummeted after that. Any appraisal before 2006 is totally irrelevant in today's market.

Stupid thing is, the vacant property I own north of my house is worth far in excess of what the $70,000 loan I am requesting is....guess the appraiser guy missed that point.