House appraised low

I just got my appraisel and the comps they used were houses that sold before the RE price hike hit my neighborhood. Houses are selling for were bought at 90-100 and sold flipped (not much of a flip but those are the numbers) 120-140k. They are comping mu house at the pre-flip prices. Why would they do that?

There could be a few reasons

  1. The appraiser field now a days is under investigation do to high appraised values a few years ago (At least in CO,AZ,NV and AL)

  2. You hired a very conservative appraiser.

  3. You hired a ROOKIE…

  4. Values fell in the area.

  5. That is what the house was worth.

  6. The comps had high dollar finishes.

The list could keep going and going.


If you are sure of your values, hire yourself a second appraiser and make sure the individual has local knowledge when you call.

I had 4 people explian why they did it. It reallt is worth 20k more than appraisal.