Appraisals sabotage deals

I guess I don’t blame the appraiser from being angry. After all they didn’t have ANYTHING to do with artifically inflated housing prices. I remember the days when I could call an appraiser and get the price I wanted.
I have a question Angry A. If you are appraising a house on a quiet residential street and and model match comp is on a busy 4 lane street, wouldn’t you give some value tot he house on the quiet street?
The problem I am seeing is we have appraisers coming in from surrounding counties who don’t know the area.

We are in the process of refinancing our house, the appraiser used Sold comparables from six months ago, when their policy says should be within 90 days. Also, she’s from another county and doesn’t know what’s going on in the market in our area. There were two properties located about 1-2 blocks away from the subject property, she did not use them and instead she used properties about 5 blocks away. It looks like she doesn’t have access to current MLS service.

Our property was appraised by the Appraiser about $25,000+ under it’s market value.

I find it interesting that so many folks who DO NOT hold any type of licensure regarding real estate appraisal have such concrete opinions about real property appraisal. Stop blaming the appraisers for the market ills and drink in the reality. The realtors, mortgage brokers and lenders played a very large part in the ridiculous price ramp up which occurred around 2005. We were being threatened over the phone, the fax and email if we didn’t come up with “the number” to satisfy all of the greedy idiots involved. Now we’re being blamed for the collapse and the subsequent fallout.
If you have an issue with an appraiser and or appraisal, talk to your lender/bank and ask specific questions about the appraisal. Most appraiser’s worth their salt will explain the whys, the whens and the hows in explicit detail when asked for the information and share the info with the appropriate parties. If you have further issues regarding the apprasier or appraisal then contact the state appraisal board in your state. They have been appointed to protect the public from us appraisers. You can lodge a formal complaint and the board will investigate the claim as they are in existence to protect the public.
It’s seems awfully funny that NOBODY bitched when everything was going their way in the Great Real Estate Rip Off of the 2000′s. No one complained about the values coming in too high, but low and behold now that the market has bearing the ugly realities no one wants to hear the truth. Don’t worry too much though, the banks are doing everything they can to get rid of us residential appraisers. Then you’ll get your valuations from Automated Value Models. If you think us appraisers are worthless wait until you get property valuation as per AVM where the bank calls all of the shots.
I used to enjoy my profession. Now I hate this job with a bloody F#$&*@g passion. Every homeowner thinks their property is more valuable than anything within the market area even when specific arms length transactions are utilized to exhibit the market value. If most people really knew some of the ugly realities about real estate they would be sickened. Granted there are some bad appraisers out here, but there are probably three times as many bad agents in practice as well. A large number of them cannot measure homes, do not understand site size as related to value and are more than willing to lie in lieu of losing a sale.