Yeah, I’ve noticed the same thing lately—banks are definitely being a lot pickier, and it’s pretty frustrating. I get that comps can swing things, but it almost feels like they’re cherry-picking the worst ones just to cover themselves. Like, I saw a house down the street sell low because it was a total fixer, and somehow that got used in my appraisal? Makes zero sense when mine’s in way better shape. Hard not to feel like the whole process is rigged sometimes.
Like, I saw a house down the street sell low because it was a total fixer, and somehow that got used in my appraisal? Makes zero sense when mine’s in way better shape.
That drives me nuts too. Lenders are definitely erring on the side of caution right now, but lumping a renovated place in with a rundown one just isn’t good practice. Appraisers *should* be making adjustments for condition, but lately I’ve seen them lean hard on the lowest comps to justify conservative values. It’s not “rigged,” but it sure feels like they’re stacking the deck. If you think your appraisal missed the mark, you can actually challenge it—sometimes providing photos or a list of upgrades helps. Not saying it always works, but I’ve seen it make a difference.
Yeah, I’ve had the same thing happen and it’s honestly baffling. My place is updated top to bottom, but apparently the “comparable” down the block with peeling paint and a 70s kitchen is dragging me down. Makes you want to invite the appraiser over for coffee just to show them what’s up. Hang in there—sometimes pushing back a little actually helps, even if it feels like yelling into the void.
Yeah, those comps can really be a head-scratcher. I’ve had properties with new everything get undervalued just because of a rundown place nearby—drives me nuts. Ever notice how sometimes appraisers just don’t see past the surface? Keep at it though; sometimes a second look actually moves the needle.
Ever notice how sometimes appraisers just don’t see past the surface?
Honestly, I get what you’re saying, but I’ve had the opposite happen too. My neighbor’s place is a total fixer-upper, but somehow my appraisal came in higher than I expected. Maybe it’s just luck of the draw with which appraiser you get? Or maybe they were having a good day and didn’t notice the “charm” next door. Anyone else ever feel like it’s just a roll of the dice?