The Appraisal Blog

This one is a no brainer.  The facts of the case will completely exonerate the appraisers and hopefully he will win his countersuite argument.

Basic Facts:
- Subject was appraised for $472,000 in June of 2021
- 7 months later it was appraised for $750,000 after "white washing"
 Subject is situated on a major roadway, Northern Parkway and suffers from negative external obsolesce.
- Property NEXT door to subject sold for $465,000 August of 2021 (2 months AFTER 1st appraisal) with superior kitchen improvements and a sunroom.
- Listing of property situated on same busy street, Northern Parkway, for $605,000.  It was on the market for 3 months, reduced to $550,000, and then to $510,000 before it went under contract.  The only reason seller's reduce their asking price is because the original asking price was TOO high!

The second appraisal at $750,000 was never provided to the attorneys... I wonder why?  But it does not appear to be in line with other sales with similar negative influence including the dwelling next door to the subject.



https://www.workingre.com/appraiser-counter-sues-black-plaintiffs-who-alleged-discrimination/