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Posted

I'm trying to refi my house and had an appraisal done last week. I think the appraiser might have been in that group. Comp still means comparable right?[:-banghea

That's been a problem around here. Because of the meltdown, the underwriters are choosing their own appraisers, and they often have no clue about how different locations affect the value of a house. I live near downtown, and my house is worth 100K more a few blocks away in one direction, and 100K less a few blocks away in another direction. The appraisers, who typically drive in from different counties, use comps from all three neighborhoods and screw up the final result.

Posted

It's the new laws.

Appraisers are in a pool now and they are chosen when their number comes up instead of their familiarity with any given neighborhood. It's been giving lots of folks kittens for over a year now.

ONE TEAM - ONE FIGHT!!!

Mike

Posted

Naw, this douche just did a lousy job. His first comp was nine miles away on the Indian reservation, then he went out of his way to match that low price. Several of them were 40% or more smaller. I'm seriously considering filing a complaint with his licensing board. He was literally at my house 10 minutes.

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