They’re just more pronounced now because we are printing soo much money and use debt tools with derivatives, etc in my opinion

In 1950 a nice SFR in a good blue collar neighborhood in Detroit sold for $9500.  

They are outdated, not all of them are on the MLS, however, I was working on the CA deals and 2 of them were sold when I checked on them, and the marketplace wasn't updated.

It is zoned for SR7, a single-family home, but is being sold as a multifamily home since the property was converted into 2- two entrances, 2bed/1bath per unit, separately metered electric.

Last appraisal we got was $560k (*the reason the appraiser said it was so low was because there weren't enough similar houses sold to really base my home price off of).Upstairs is a duplex 4b, 2baBasement is 1b, 1baShared laundry roomMy wife and I live in the basement and tenants live above us. 

There are 1,085 lots for sale JUST IN the NW CapeOnly 244 sold in the last 4 monthsThat is 17.8 months of inventory!!!

Although I have not sold RE in 15 plus years, and full time in probably 30 plus years..

There are still things we don't know... like what the value of other properties like yours in the area are worth...but I will throw out a couple of thoughts for you.As to appraised value - many appraisers look at what the property is being sold for and base their appraisal around that number.  

The IRS will literally bill them for roughly 30% of the difference in what's owed versus what it sold for. 

I’ve looked on the county’s property tax inquiry, it’s listed the 2020-2023 property tax years as “property taxes sold”.