Unrealistically Low Appraisal Values in Up Markets a Problem Posted in Appraisal & Valuation, Did You Know, by Scholastica (Gay) Cororaton, Research Economist on December 11, 2012 You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “Unrealistically Low Appraisal Values in Up Markets a Problem”. Tags:Appraisals,REALTOR® Confidence Index,REALTOR® Members Related Posts Foot Traffic: Grand Rapids Association of REALTORS® Demand for Residential Rental Properties Still Strong Comments Robert Horvath We are in a market wihere the are few homes for sale. Homes are being put up for sale at prices higher than before the 2005 to 2007 period. Just to get a listing a real estate person is adding $100,000 to $200,000 to the price of the home. Buyers are paying 20 to 25% more for a home than 5 months ago. Maybe we should require all real estate persons to be educated as appraisers before we allow them to go out into the field. Two cases at point. A condo development had two sale within the last 11 months of $600,000 and $605,000 and a new listing was priced at $711,000. Thats an increase in value of 18.4%?? In another case a buyer paid $435,100 for an old house and the lister put it on the market 6 mos later for $599,000, almost 27% higher with no improvements.