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Hasty and lacks good judgement
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The reason for this complaint is because he appraised our property for $55,000 less than an appraisal we received from a different appraiser one year earlier when we were applying for a HELOC. Given that market conditions for our region - a desirable residential neighborhood in the city of San Francisco where comparable properties have been selling for 1.3 million - have been on a continual climb, we’re rather perplexed by how MrAppraisal’s assessment could possibly have come in lower.
His opinion of the site value was 150K lower than the previous appraiser’s.This alone makes us question Anthony’s core competence in this field. While the previous appraiser was on our property for over an hour, Anthony seemed quite rushed and hasty. He literally spent less than 3 minutes looking at the main level of our house
The previous appraiser even counted our unremodeled basement unit at a much lower value and yet his appraisal still came back sound. Despite Anthony having checked off the boxes for increasing property values and shortage of demand (vs. stable and in balance checked off on last year's report) and w/ both the high and low average prices much higher than the figures from a year ago, logically this appraisal should have come in higher than last year.
Whether or not he could not be bothered with taking his time, it seems almost as if he just tried to find the worst comps possible. And he noted those comps as either “inferior condition”, “smaller home”, and/or “inferior location” and then he based his appraisal price in line or below the sales prices w/ all these inferior comps.
Clearly MrAppraiser has other things he'd rather be doing when he's working on an appraisal job.
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