Hwehwe.com.gh marketplace website has organized a two day conference for partners and stakeholders in Accra.

Mr. Daniel Dadzie, the Senior Manager of the firm explains that “the main aim of this conference is to bring together all our partners and to share with them latest trends in their respective industry and how they reach their customers faster and how they can be very successful using the online tools provided by hwehwe.com.gh”.

The conference was divided into four sessions to accommodate partners from Autos, Real Estate(s), Retail Market and Professional Recruiting firms.

Participants from the Hwehwe Property Agents Sessions found their workshop the most interesting especially on issues how real estate agents can explain to their customers or potential customers: “Why Their Home or Property May Not Be Worth as Much as They Think”.

Homeowners and appraisers rarely agree on a property’s value, and for the vast majority of the past decade, homeowners have been overvaluing their homes. In May, there was a 12% gap between what consumers thought their houses were worth and the worth determined by appraisers—it’s the first time in 11 months that homeowners overvalued their properties by more than 4%, according to Hwehwe Research Team.

Hwehwe Research Team occasionally publishes its Home Price Perception Index on regular basis, and June is the third consecutive month of a growing gap between homeowner and appraiser opinion. At the same time, the Home Value Index increased 1.1% nationally from April to June and 4.64% from last June, so values are going up, just not as much as homeowners may have believed, perhaps.

Mr. Daniel Dadzie commented that “Looking at housing markets from a national perspective is a very rough look at market performance, because things vary so widely by location.

The HPPI, more than anything, is a reminder that there is no such thing as a national housing market. Every city, and every neighborhood, moves in different directions based on local factors. Consumers need to remember to watch their local area closely to understand the direction their market is heading.”

“For example, in most major metropolitan areas, appraisers estimate properties’ worths at more than the homeowners’ opinion, in contrast to the national trend. Out of 30 large areas analyzed by Hwehwe Research Team, homeowners overvalued their homes in only 20 cities, and only ten of those had a difference in opinion above the national average”.

In addition, Banks may use appraisals to determine whether to back home loan, whether it’s a purchase mortgage or not, which is why it plays such an important role in the mortgage process.

Additionally, appraisals factor into home owners property taxes, another major homeowner expense that should be anticipated changing from time to time.

When having homes appraised, real estate agent should advise their customers on simple things they can do to make it go smoothly, like tidying up before the appraiser arrives, inside and out, in addition to having an accurate list of improvements you’ve made to the home or any features you want to make sure the appraiser is aware of.

Hwehwe.com.gh can confirm that most of attendees found the various workshops useful.