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The rep at USAA said appraisals are usually higher than what you could expect to sell for.

So your question is: Is the rep's assertion correct?

In my area, absolutely not. We're in a bit of a mini-bubble here, and it's very common for appraisals to be lower than sales prices, with the buyers having to either go for higher LTV mortgages, or make higher down payments.

Pressure's been on appraisers to keep their numbers low since 2009, so even before this year's local run-up, appraisals have been coming in lower, or neck-and-neck, with sales prices.

In your area? If no one here can help, you can ask the USAA rep for specific examples. It's hard to tell sometimes whether someone's making a truly educated judgment call, or just speaking optimistically.
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