Appraisals Continue to Fall Below Homeowner Value Perceptions

The trend of owners overestimating their home’s value when refinancing continued in August

By Jeff Sorg, OnlineEd Blog

(September 20, 2016) –  According to a recent report by Quicken Loans, appraisals across the country were an average of 1.56 percent lower than what refinancing homeowners expected in August, based on the company’s national Home Price Perception Index (HPPI).

The Quicken Loans Home Value Index (HVI), which measures home value changes exclusively through appraisals, moved higher yet in August. Home values increased 1.73 percent over the previous month while jumping 8.13 percent higher than August 2015, according to the national HVI.

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Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.