Friday, August 8, 2014

I Would Never Want To Be An Appraiser!

Poor guys (or gals) much rests in their value decision! Two properties that I have in escrow this week we were kind of holding our breath on the appraisal outcome. One most definitely was a little edgier than the other.

First one came in....phew....out whooshed my breath. I wasn't horribly worried about that one. The next one, concerned as the comparable sales were all over the place and the property my clients have in escrow had an amenity that we just hadn't seen in that area this year! And, it was also income producing property.

The appraiser on the first one met the listing agent and he said he felt it would be okay.....and it was.

Second appraiser was a little more close-lipped and I was figuring we may have a value problem in the amount of about 25k and knew the seller would be really, really, unreasonable if the value didn't come in at contracted purchase price!

Just got the good news today that not only did the appraisal come in at purchase price but due to the appraisers knowledge, skill, and expertise, he found comparables that I wouldn't have used due to how long ago the homes had closed escrow. But, those appraisers (and I took an appraisal course too) have great little appraiser calculations to give value even when it's older than the traditional 90 days that they prefer to use!

At any rate, wandering and I do. Very happy for both of my clients in the excellent calculations and ultimate valuations of their soon to be homes! And very thankful that my chosen career is as a Realtor....not an Appraiser!

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