Could you be overestimating the value of your home? As it turns out, many homeowners are.
Homeowners priced their homes an average of 1.69% higher than the appraised value in February, according to the National Home Price Perception Index from Quicken Loans. This is wider than last month’s spread of 1.47%, and the third consecutive month of increasing disagreement. “Quicken Loans is in a unique position, with access to two valuable data points,” said Bill Banfield, Quicken Loans vice president of capital markets. “Homeowners tell us what they think their home is worth at the beginning of the mortgage process, then we compare that with the appraiser’s opinion of value.”
Read more at HousingWire.com.