A good friend of mine is a realtor. ( yes, I associate with the wicked ) He called me one day and said that one of his sales did not appraise for the contract price ( $155,000 ), and asked me to help explain how appraisers come to their conclusions of value. ( appraisal came in at 130,000 and the appraiser said that he pushed it to the limit. There were enough sales in the neighborhood that he could not go outside. The closest communities are newer, with prices in the mid 200's, and the closest comparable commuities with similar homes are farther away, and priced 150's and up ) I had done an appraisal in the neighborhood of his sale, and told him that that particular neighborhood was underpriced, and that if SKIPPY came along, those houses would sell for 20 - 30 grand more than they are selling for now. Legitimately ! Someone would have to set the market. Maybe a cash deal would set things in motion. He totally agreed. I also told him that I wouldn't want to appraise the house in question because there was no support for my opinion. HE ended up selling that house 4 times in a matter of a few months. It finally appraised for $145,000. The seller received $150,000, because the buyer coughed up the additional 5 grand. That neighborhood was underpriced in my opinion. How would you gals & guys handle this if it was yours to appraise ?