Thanks so much to all of you for your detailed responses and suggestions. Our house is 2940 ft.², Four bedrooms, 2 1/2 baths, a family room, laundry room, living room, kitchen, separate dining room, three season room, recration room, covered patio, 2 1/2 car detached garage with wood burning stove, furnace, woodworking area and inground pool. DT3 Split level above grade and all finished space. Of note the appraiser only valued additional bathrooms, not bedrooms. So no double dipping concern.
There are similar size houses within a mile of our property that have sold within the 6 months however most tend to be smaller (between 2075 ft.² and 2325 ft.²). There is one less than 0.5 mile away that is 3036 ft.² If that had been used by the appraiser as the comparable sale that our home was valued against ours would have appraised for $219,800. If the home 0.75 miles away had been the comparable sale we were valued against our house would have appraised for $228,500. Instead our 9 room house was valued against the closest Home that is 2128 ft.² with only 6 rooms and is a ranch. Since the additional 812 ft.² Of our house’s GLA was calculated at eight dollars per square foot, Our house appraised for $202,500. Again this just doesn’t make sense to me why the appraiser would chose that house instead of either of the others that were listed as comparables sales within the appraisal and were of more similar style and size to our house.
I’ll look into the field review appraisal suggested.
Thanks again to all of you!
There are similar size houses within a mile of our property that have sold within the 6 months however most tend to be smaller (between 2075 ft.² and 2325 ft.²). There is one less than 0.5 mile away that is 3036 ft.² If that had been used by the appraiser as the comparable sale that our home was valued against ours would have appraised for $219,800. If the home 0.75 miles away had been the comparable sale we were valued against our house would have appraised for $228,500. Instead our 9 room house was valued against the closest Home that is 2128 ft.² with only 6 rooms and is a ranch. Since the additional 812 ft.² Of our house’s GLA was calculated at eight dollars per square foot, Our house appraised for $202,500. Again this just doesn’t make sense to me why the appraiser would chose that house instead of either of the others that were listed as comparables sales within the appraisal and were of more similar style and size to our house.
I’ll look into the field review appraisal suggested.
Thanks again to all of you!