Paul's Appraisal Blog

We've all undoubtedly heard about the downturn in the housing market, and I have written about it in a previous post. What many people don't realize, is that the statistics are very general and don't necessarily reflect what is going on in your neighborhood. For example, you may read in the paper that homes in San Diego have decreased in value by 10% over the last year. This could mean that some neighbor hoods have experienced 15% depreciation while others only 5%, while still others have remained relatively stable. From what I have seen so far, homes nearer the coast and higher priced homes have tended to hold value better that middle and entry level homes. This is why an appraisal based on current, local data is the only way to really know what your home is worth- you may be surprised!