Robert Dunkle
Senior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified General Appraiser
- State
- Oklahoma
Y'all must be better appraisers than I am!! This is only 2% +/- of the sales price / indicated value. Either way you look at it, that is claiming a level of accuracy that I don't claim in my reports. Unless you had a "lead pipe cinch double" for the subject house that had sold within the last 3 or 4 months, I would be looking at the subject as a "comparable sale" for this appraisal!
It is likely that you had a range of adjusted values for your 4 comps. Was the range from $227K and down? If the range included $230K or so, my opinion would be that the previous sale of subject would pull the indicated value to the upper end of the range that might include the previous sale price.
Sometimes "it is what it is" gets to be somewhat arrogant! Long ago and far, far away (1970's) I was once criticized because I valued a house $500 above what a local "expert" valued it later ($22K). That is only about 2% +/- on that price of house. If I look at the data and believe that it points to $232K and you look at it and believe it indicates $227K, who is correct? Maybe both of us!!! Again, that is only 2% +/-. In previous posts, many people have expressed the belief that our value should be a range. I believe that myself. Unfortunately, the URAR's require one number. If someone is within 2% of my number, I'm not going to argue with them.
Go ahead, fire away!!!
It is likely that you had a range of adjusted values for your 4 comps. Was the range from $227K and down? If the range included $230K or so, my opinion would be that the previous sale of subject would pull the indicated value to the upper end of the range that might include the previous sale price.
Sometimes "it is what it is" gets to be somewhat arrogant! Long ago and far, far away (1970's) I was once criticized because I valued a house $500 above what a local "expert" valued it later ($22K). That is only about 2% +/- on that price of house. If I look at the data and believe that it points to $232K and you look at it and believe it indicates $227K, who is correct? Maybe both of us!!! Again, that is only 2% +/-. In previous posts, many people have expressed the belief that our value should be a range. I believe that myself. Unfortunately, the URAR's require one number. If someone is within 2% of my number, I'm not going to argue with them.
Go ahead, fire away!!!