Appraisal
Just got the appraisal done, waiting on the result. Does anyone know if a property usually appraises to zestimate or Redfin estimate? #housing
Depends on appraiser’s mood. If you are in HCOL area like bay area it should come in at offer value 95% of the times.
Zestimate and Redfin estimates have zero barring on appraisal. You’ll be lucky to even be close to either. They’re both a tech scam.
Appraisals are a scam IMO. They always come in exactly 50k over the exact amount I need it to be to close with the proposed mortgage.
If the appraisal comes over, you are fine.
+1. The bank and appraisers work hand in hand. If bank knows that their customer is capable of paying off the loan amount, they literally tell appraiser to appraise the value of the property to what the customer has offered. It’s a scam.
In Bay Area apparaisal are way above zestimae etc. I got my offer apparaised at 30 percent above list and about 15 percent above zestimaye
My appraisal came at exact dollar value at which I bid the house lol. I am good at estimation 🤣
Came right in between Redfin and Zillow.
Also how long does it usually take in Bay Area when you rush it?
My home in MA just got appraised within the Zestimate range and 20k over the actual Zestimate
Mine got appraised to value. it's not related to Zen estimate. Appraiser will draw nearby comms and adjustments will be done based on differences. DM me if you want more info
How long it took ?
It various, an appraiser having a bad day can be way off the actual house value. A good agent can deal with this an possibly appeal and resubmitted the appraisal. Ours was spot on the asking price. Good luck!