RISMedia's ACE
Search
Exact matches only
Search in title
Search in content
Search in comments
Search in excerpt
Filter by Custom Post Type
{ "homeurl": "http://rismedia.com/", "resultstype": "vertical", "resultsposition": "hover", "itemscount": 4, "imagewidth": 70, "imageheight": 70, "resultitemheight": "auto", "showauthor": 0, "showdate": 0, "showdescription": 1, "charcount": 3, "noresultstext": "No results!", "didyoumeantext": "Did you mean:", "defaultImage": "http://rismedia.com/wp-content/plugins/ajax-search-pro/img/default.jpg", "highlight": 0, "highlightwholewords": 1, "openToBlank": 0, "scrollToResults": 0, "resultareaclickable": 1, "autocomplete": { "enabled": 1, "googleOnly": 1, "lang": "en", "mobile": 1 }, "triggerontype": 1, "triggeronclick": 1, "triggeronreturn": 1, "triggerOnFacetChange": 1, "trigger": { "delay": 300, "autocomplete_delay": 310 }, "overridewpdefault": 0, "override_method": "post", "redirectonclick": 0, "redirectClickTo": "results_page", "redirect_on_enter": 0, "redirectEnterTo": "results_page", "redirect_url": "?s={phrase}", "settingsimagepos": "left", "settingsVisible": 0, "hresulthidedesc": "0", "prescontainerheight": "400px", "pshowsubtitle": "0", "pshowdesc": "1", "closeOnDocClick": 1, "iifNoImage": "description", "iiRows": 2, "iiGutter": 5, "iitemsWidth": 200, "iitemsHeight": 200, "iishowOverlay": 1, "iiblurOverlay": 1, "iihideContent": 1, "loaderLocation": "auto", "analytics": 0, "analyticsString": "", "show_more": { "url": "?s={phrase}", "action": "ajax" }, "mobile": { "trigger_on_type": 1, "trigger_on_click": 1, "hide_keyboard": 0 }, "compact": { "enabled": 1, "width": "200px", "closeOnMagnifier": 1, "closeOnDocument": 0, "position": "fixed", "overlay": 0 }, "animations": { "pc": { "settings": { "anim" : "fadedrop", "dur" : 300 }, "results" : { "anim" : "fadedrop", "dur" : 300 }, "items" : "fadeInDown" }, "mob": { "settings": { "anim" : "fadedrop", "dur" : 300 }, "results" : { "anim" : "fadedrop", "dur" : 300 }, "items" : "voidanim" } }, "autop": { "state": "disabled", "phrase": "", "count": 10 } }

Appraisers and homeowners are less eye-to-eye on home value for the first time in six months, with the gap between their opinions widening in December to 1.33 percent, according to Quicken Loans’ National Home Price Perception Index (HPPI). The difference in opinion, says Quicken Loans Chief Economist Bob Walters, helps to impart understanding for homeowners, who often hold their homes at higher value than appraisers.

“It’s our hope that homeowners use the HPPI’s unique data as an insight into their local housing market,” says Quicken Loans Chief Economist Bob Walters. “When consumers have a better grasp of their local market conditions, it can help influence their expectations and ultimately lead to a smoother mortgage or home sales process.”

The latest Quicken Loans National Home Value Index (HVI), at the same time, declined 1.19 percent.

A summary of the HPPI:
Americans’ expectation of their home’s value was an average of 1.33 percent lower than appraisers who valued their home, according to the National HPPI. The gap between actual appraised value and opinions had been narrowing since June, but December’s perception difference of 1.33 percent erases all improvement made in the last few months. Despite the drop in the composite value, significant variations in value continue in various regions of the country, highlighting the regional nature of the real estate market. (For instance, estimates from Philadelphia homeowners were 2.94 percent higher than appraised values; on the other end of the spectrum, appraisals are outpacing expectations of Denver homeowners by 3.04 percent.)

A summary of the HVI:
As snow began to fall in much of the country, so did home values. The average appraisal value dropped 1.19 percent from November to December, according to the National HVI. Despite the dip from the previous month, home values continued to climb higher year-over-year by 3.85 percent nationally; however, this growth is a slower pace than the 5.28 percent annual increase in November. Appraised values showed strongest annual growth in the West, while the Midwest had the slowest gains.

“Home value growth has been mostly driven by enthusiastic buyers vying for a smaller than usual inventory of properties,” says Walters. “Appraised values have dipped along with the seasonal decline in sales around the winter months. It’s yet to be seen if value growth will build as sales rise in the spring, or as construction increases.”

For more information, please visit QuickenLoans.com/Indexes.

For the latest real estate news and trends, bookmark RISMedia.com.