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Homeowners underestimate their property values 1.6%, research says
Homeowners underestimate their property values 1.6%, research says

Do American homeowners think their properties are worth less than the actual market value, as measured by professional appraisers? Highly unlikely, you'd probably say. Everybody knows that owners tend to have optimistic impressions of what their homes are worth. They know how much money they've sunk into improving the place, and they know — or think they know — the prices for houses in the neighborhood. But provocative new research from the country's second-largest mortgage lender suggests the opposite is true. According to new statistical analyses by Quicken Loans, owners on average underestimate the value of their homes 1.6% compared with appraisers'...

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