Yesterday, I received the results of the appraisal on my house required by my lender. Simply put, the "value" of my home is a fiction. If I could sell my house for the appraised value (or close to it), it would be a miracle. While it will help me refinance my home, it worries me that we may not have learned from our past mistakes.
Inflated appraisals is one of the reasons we got into the housing crisis.