Do multiple offers affect appraised value?

In this episode of Real Value Cast, Blaine discusses a very common occurrence in the current market in 2015, multiple offers. The market is hot for sellers with many of the listings being fought over by multiple buyers all bidding the sale price upward in a classic supply and demand battle. 

Blaine talks about some of main factors affecting this phenomenon and also answers the question of whether or not multiple offers have an effect on the final appraised value regardless of whether or not the sale price was affected.

Grab a pen and a pad as there is a lot of info about the economy, the real estate market, the appraisal, and how they all work together.