You can find plenty of articles about how changing appraisal practices have affected how homes are bought, sold, and financed. What you might not learn until you talk things over with an experienced appraiser in an objective setting is how comparable sales information and the recording of it are also making a difference.
Scan your average MLS listing and see whether the listing agent has simply used the maximum character count allowed for the description, and for evidence that suggests hurried data entry selections.
If the listing is suspect along those sorts of lines, how does that facilitate the appraisal process? And if an appraiser calls for additional details after the sale, how forthcoming are we with information regarding things such as quality and finish? Lots of clear photos, and a virtual tour (with lots of copy, please) can also work to everyone's advantage.
And it's all even more problematic in areas that are not typical subdivisions....where things such as acreage, location, geography or topography, outbuildings, and construction tend to make situations unique to say the least.
If you're an agent, redouble your efforts on your own marketing work and encourage your peers to do likewise. If you're a buyer or seller, examine some of your agent's listings and don't be afraid to ask questions...and at the very least, review the listing of your property. Otherwise, we wind up with more under priced listings and frustration on the way to the closing table.
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