Quicken Loans, Detroit, said Tuesday that home values assigned by appraisers were 1.93% lower than what homeowners estimated in June, according to the company's national Home Price Perception Index (HPPI). The difference between value perceptions from appraisers and owners has slightly widened since May, when appraised values were 1.89% lower than expected.

Home valuations across the country rose in June, as reported by the Quicken Loans Home Value Index (HVI). The average home appraisal increased 0.84% since May and posted a 4.47% rise since June 2015.

Appraisals show home values higher than owner expectations by as much as 3% in Denver but, in contrast, more than 3% lower in Baltimore, Detroit and Philadelphia.

"Perception is everything. It can make or break a home sale or mortgage refinance," said Bob Walters, Quicken Loans chief economist Bob Walters. "That's why it's so important for homeowners to realize how they perceive their home's value could vary widely from how an appraiser views it. If the estimate is lower by just a few percentage points, the buyer could need to bring as much as another several thousand dollars to the table to avoid having to restructure the loan."

Continuing the slow upward march, appraised values rose by 0.84% from May to June - as measured by the national HVI. Home values are making stronger annual gains, rising 4.47% since June 2015. The regional data shows equally robust growth. Each of the four regions measured displayed modest monthly gains and more meaningful year-over-year growth. The West remains the leader with a 5.84% annual increase in appraised value. The Northeast posted the smallest increase with a rise of 2.07% since last year.

"Nationally, home value increases are well within the healthy range," said Walters. "Although, the variances across the country can influence owners' perception. Owners in the West, where appraised values are rising more quickly, tend to underestimate their home's value. The opposite is true for those in the Northeast, with appraised values showing slower growth."