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Usually to get the value of a home, sales of properties in the vicinity of the last six months are taken into account; and the appraised value is not always equal to the true market value of a home or what the home will sell for on the open market. That is why as a borrower and potential home buyer, it is important to get a low home appraisal so that you can offer the seller a lesser price and still have a high quality home.
Although you, the borrower, are paying the appraisal fee, you have to understand that the appraiser in reality works for the lender and not you. This is done so that the bank does not end up lending you more money than it should.
In order to get a low home appraisal, you will have to keep your fingers crossed that you get a busy appraiser who does not have time to do proper comparisons. A busy appraiser will not take time to view all the upgrades in a home and he will use comps from a lesser radius. Of course it is the appraiser’s job to use comps of the last six months but if the area you are interested in purchasing a home has not had too many sales, it will become hard for the appraiser to come up with comps. This means that he will under-value the home and if you are lucky and the seller is desperate to sell, you will end up getting the home for a cheap price.
In contrast, for a home seller a low appraisal can kill the sale as you will be offered below the fair price by the buyer.
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The housing market is always directly affected by the surrounding markets around it and that is why there are shifts and price elasticity in the housing market. Factors that affect the housing market include average income increase or decrease, annual spending as well mortgage interest rates. 
