More val funnies

Background.

commenting valuer did a val for wbc, the outcome of which was lame.

ordered anotherval from diff lender 50 days later.

Client wants to stay with wbc, so we went back toWBC valuer with a request.

ta
rolf


Thank you for your email and the valuation report provided by the other valuer

I have reviewed my valuation and also perused the other valuer?s report. I found that my valuation figure for $500,000 was a fair market value of this property on 02/10/2013. I also agree that the valuation figure for $560,000 for the same property was reasonable on 27/11/2012.

As you may be aware, in the Sydney property market, especially in western suburbs (e.g. Blacktown), the purchase price has increased significantly (about 20%) in the immediate area, as a result of a shortage of stock and the interest rate has remained low in the past 6 months. In addition, dual occupancy properties have become attractive to investors because of the higher rental return rates, of about 8%p.a..

Hence, it is not unusual for a $60,000 difference between two valuations in about 2 months. Unfortunately, I am unable to increase the valuation figure which I did on 02/10/2013.
 
Agrees that the 560k was reasonable
Agrees that local market has had significant growth
Agrees that this property is in a forcefield of its own not subject to market changes.

Alrighty then.
 
had exact same experience with commbank and wbc

commbank valued house + GF in blacktown for $500k 3 months ago...

wbc went in last week and valued at $560k

wbc gets my business :D
 
Go ask a real estate agent what its worth to sell...They will overstate their estimate then try to talk you into selling cheap even in a rising market.

Is this any different ?
 
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