Appraisal values in Edmonton

[Gemini]

I am thinking to do re-finance my suited bungalow in Edmonton. I recently received city assessment value and wondering based on current climate does normally the appraisal value is more than the city assessed value now there or almost the same? I tried re-financing the same house an year ago and the appraisal value came lower than the city assessed value. please share any news from investors who has down appraised their homes recently.

Thanks in advance.

Havan

 

[Thomas Beyer]

Yes appraised value should be at least 10% higher.


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[Cory Sperle]

Assessment value is almost completely meaningless today with rapidly changing values. I lived in Edmonton in 2007 when houses were going up $10,000 a week so it's impossible for municipalities to be accurate. The bank appraisal will almost always be generous if your goal is to refinance. Use the assessment to fight your property taxes.