Another "paired" appraisal allegation, Seattle

[Joe Flacco]

Based on these sales on the 3500 block of S Bennett Street, on nearly identical lots, home designs with similar appeal, with the houses varying in condition, and prices likely higher in April 2022 than mid-2021, I would personally have a very difficult time saying the value is less than $800k at the very minimum as of the April 2022 date of appraisal. As a matter of fact, these are probably the exact four comps I would have in the appraisal report.

If you guys see it different then I don't know what to say.

Edited to add.. I don't think the first appraiser was racially biased but as can be observed in the discussion in this thread, it might be understood why there can be a difference of opinion.

 

[djd09]

obviously the ROV process is a complete joke

 

[djd09]

that most be a real desirable neighborhood, look at those prices

 

[glenn walker]

that most be a real desirable neighborhood, look at those prices

No its not a great neighborhood thats a average price in Seattle. The Seattle housing market is very competitive. Homes in Seattle receive 2 offers on average and sell in around 14 to 21 days. The average-medium sale price of a home in Seattle was $845K last month, up 7.6% since last year .Seattle, WA is One of the Most Overpriced Housing Markets in America.

 

[djd09]

idk from an Ohio standpoint if you pay 800,000 the area must be really nice and not just average

 

[djd09]

i learning alot today. the term 'average' was removed because somehow that may have racist implications what a bunch of whack jobs i mean repent and make everything worth 1 million dollars

 

[TerryRohrer]

idk from an Ohio standpoint if you pay 800,000 the area must be really nice and not just average

Same here. That is why I'm not really opposed to the actions of those folks pushing the biased narrative. Taken to its logical end, every similar house in any neighborhood, whether it be in Seattle, Ohio, or Montana, will have to have the same value "to be fair." We expect our check in the mail. Sooner, rather than later, please!

 

[George Hatch]

Sales in the 1000-1750 sf size range from the last 12 months (some of these are not MLS sales). Subject is a C4 condition which means that among these sales it will be valued no higher than the middle 50%. As in, nowhere near the upper end of the price range.

 

[Joe Flacco]

Sales in the 1000-1750 sf size range from the last 12 months (some of these are not MLS sales). Subject is a C4 condition which means that among these sales it will be valued no higher than the middle 50%. As in, nowhere near the upper end of the price range.


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You should adjust your SF size range because zillow includes finished basement in their SF. The Clarks home is 1,350 SF + probably 1,000 SF finished or unfinished basement. It is a similar size home compared to the one that sold for $1.1 million across the street. It would probably cost around $35k-$50k to finish it if they didn't already.

 

[glenn walker]

Generally they are “daylight basements” since Seattle is so hilly resulting in houses where on one side the basement is underground while from another side it is at ground level.