CoreLogic; Appraisers Know Their Stuff

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Posted To: MND NewsWire

CoreLogic continued its series of blog articles related to appraisals with an analysis of the appreciation rate when an appraisal has come in above the sale price versus a sale where the appraisal falls short . Principal Economist Yanling Mayer says when an appraisal doesn’t match the sales price then buyers probably think either they overpaid for their house or that they got a bargain. If either is true, then should they expect either a below market rate of appreciation in the former instance or above-average appreciation in the latter? Mayer says evidence seems to support the hypothesis that there is “money left on the table” in high-appraisal transactions. CoreLogic looked at appreciation for houses in California that had sold twice post 2010. Homes that appraised during the first sale with…(read more)

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