My ActiveRain Colleagues, Here’s Another Crazy Appraisal Story…
By JORGE VAZQUEZ, Investor-Focused Broker | FL Statewide | 3,500+ De
(Graystone Investment Group)
Over the years, I’ve seen plenty in real estate—roofs caving in, tenants who make you want to pull your hair out, even closings that fell apart hours before signing. But the one thing that still makes me shake my head is when an appraisal comes back completely off the mark.This one was a doozy.I had a Tampa property appraised, and the number came around $100,000 short of where it should have been. Not a small miss. A six-figure swing. And when I dug into the report, it was obvious why: Square footage was miscounted by hundreds of feet Recent upgrades weren’t even mentioned Comps were outdated, with some pulled from neighborhoods more than a mile away A block construction home (mine) was compared against wood-frame properties You can imagine the ripple effect. Buyers get nervous, sellers...
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