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[quote=Anonymous][quote=Anonymous]Here is my experience:  the appraiser skipped houses really close to ours because he wanted similar square footage. He found others within 5 miles or so, including one o/s the beltway.  We are inside the beltway.  Anyway, You will get no credit for being on a quiet street or for backing up to a park.  Well, at least if you appraiser is like ours.  I think it is ridiculous.

But the appraiser will give you credit for renovated kitchen, deck, basement - assuming the comps don't have those things.

For example, If a comp has no basement and sold for $600,000, then the appraiser may make the comp value $629,250 (that is assuming you have 1,950 s.f. in basement and the appraiser uses $15 per s.f.)

our appraiser used $15 per s.f. for basements and $45 per s.f. for upper levels.

our appraiser added only $7,500 to comps that didn't have a renovated kitchen.  He also added $5,000 to comps that didn't have a deck and $5,000 to comps that didn't have a fireplace.  He added $15,000 to comps that were rated in worse condition than ours.  Finally, he added $5,000 (I think) to comps that had one less bathroom than ours.

House C sounds like a comp our appraiser would have used.  Unfortunately, he probably would have used the nearby houses you mention.

our appraisal came in too low :([/quote]

Did he use the same model homes? Or just home with the same square footage? In our neighborhood, there are 5 or so models. Our base model is the smallest, but we have an extension. So the cheaper houses that are the same models are 1200-1500 sq ft and ours is almost 2000 sq ft. If he uses houses with the same st ft, but different models, we are in a much better place.[/quote]

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