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Appraisers and the Chicken Little Syndrome
Chicken Little is really a story about many of today's appraisers, please notice I did not say all. I recently put a home on the market in Fort Lauderdale. The house had three offers the first three weeks and now is under contract for the second time, all offers were within $10,000 of the $189,000 asking price. This means as a Realtor I priced it correctly, the people who have a vote, the agents who show it, and the buyers who make offers all gave me a thumbs up. The area of Fort Lauderdale that the home is in, is a solid neighborhood where the percentage of homes on the market is lower than in the Fort Lauderdale market as a whole. This means over the last 6 months months, fewer homes have been listed, fewer homes have sold, and to some appraisers this makes for a nightmare, please notice I said some. Appraiser one comes to the house I will refer to him as John, as I feel Chicken Little would be rude. I have all the Fort Lauderdale comps I used to price the home, the most recent sales in the area even though some were too old for him to use, the four ... more
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