For a Home-buyer the appraisal determines the market value.  Real Estate agents are finally putting deals together only to have them blown apart by appraisals.  Appraisers are hired by third-party companies, often know little about the area where the property is located, and come up with appraisals wildly out of whack.

 As a result, they often hire less experienced appraisers and require them to rush their reports.  The reality is that many appraisers are not competent, have incorrect information on their reports, and are undervaluing homes. 

 If a value comes in low for an appraisal be sure to thoroughly check all of the comparables they are using.  We just had an appraiser at Prairie District Lofts who had to revise the appraisal 3 times before getting it right!!!