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  • Comment Detail

  • Date: 01/07/21
    First Name: Mike
    Last Name: Arman
    Email: armanmik@earthlink.net
    Organization Type: other
    Organization: homeowner, developer, rental property owner
  • Comment

    1) I built a steel frame home, masonry faced. Appraisers have no idea how to value it, they only understand wood houses.

    2) The home is on an airport, at a fly-in. Airport properties are rare and EXPENSIVE. Appraisers value it as farm land because there are no comparables within two miles. I was also told that value was determined entirely by square footage, a 2,200 sf waterfront home in West Palm Beach isn't worth any more than a 2,200 sf home in rural Iowa. (Really?)

    3) I have a 4,500 sf steel hangar, it cost about $130,000. It was valued as a pole barn at $20/sf because that's what's nearby. (So if I park my Mercedes convertible between two Yugos, it is now worthless?)

    4) I had an appraisal done on a rental property - came in at $130,000 - way too low. Called another appraiser, it came in at $180,000 - only difference was the tenant mowed the lawn and added $50,000 to the "value". I'm going to tell him to keep mowing.

    5) Computerized appraisals can't find my property, they claim it doesn't exist because it isn't in the USPS database - we are a mile from the nearest delivery route. It kicks out any appraisal and demands an exception report and explanation. I am trying to get the property appraiser to think my property doesn't exist either, so far no luck.

    Appraisals work ONLY on wood frame 3/2 SFRs, painted beige. If your home is even the slightest bit unusual, you might as well appraise it with an Ouija board - you'll probably get a better answer.