50K below??

Profile picture for ally6656
Teller County Appraisal site says this home was appraised at $216,131 recently. How is the 199K asking price even close to 50K below appraisal you're saying?
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February 08 2008
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Answers (1)

Profile picture for Linda Aanestad
Hi ally6656,

Your question may have been answered elsewhere by now, but I'll go ahead and post an answer here.  I haven't actually seen the property you're referring to for several years, but normally, when a broker says XYZ below appraisal, they mean it's below the value given by an independent appraiser--not the county assessor.  We brokers rarely rely on assessor's values because most of the time, the assessor's appraiser hasn't even been inside the house!  They don't even go to the outside of each property when values change!  Assessor's actual value on a property is often way off base but not always.  I assume that the property we're talking about had an independent appraisal done for resale or refinance purposes, and that was the appraised value being referred to.


Linda Aanestad
Epic Realty, Inc.

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June 10 2009
 

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