Cheryl,
Sometimes in a small town with unique homes like Luna Pier the appraisers have a tough time digging up relevant sales data. Since you stated "...no two homes are alike" then my guess is that the appraiser had to look at whatever sales took place in your area the last 6 months, regardless of the type of home, and try to assign a value to your home based on other factors such as price per sq ft or something.

Lenders right now are refusing to consider any sales data older than 6 months, and sometimes are even adjusting appraised values down if the sales are older than 3 mos. So even if there was a home that was identical to yours that sold last year it can't be considered

It's an imperfect science, but its a result of the market being the way it is now. Unfortunately right now foreclosure sales prices are affecting non-foreclosure prices. I wouldnt say it's OBVIOUS negligence on the part of the appraiser, unless you know for a fact that there are more similar homes to yours that have sold in the last few months at a higher price. For your own peace of mind you may want to pay a few hundred bucks to get your own appraisal and confirm your thoughts. If the new appraisal comes in like the old one then you just may have to lower the price or take it off the market. If you choose not to go that route then next time you get an offer I would have your agent speak to the buyer's lender and request they use a local appraiser with knowledge of the local market.

Best of luck
Tony

You should consult an attorney to see if you can get damages from the appraiser. as far as choosing an appraiser, the buyers mortgage company chooses the appraiser so the seller doesnt have a vote. your listing agent should have objected to the appraisal,. they should have contacted the appraiser and provided listing sheets of houses that were comparable. this does happen often and usually is worked out. if the appraiser refuses to work with you the agent would insist on talking to the owner of the appraisal company, if that didnt work they would offer the written evidence to the loan officer as well to ask for a new appraisal. your agent should have worked on you behalf, if you didnt have an agent this is why you should. a listing agent will protect the sale and watch out for you. next time have your listing agent provide comparables when meeting the appraiser to do the appraisal.

There are other people involved in this transaction that you need to turn to besides the appraiser.

Since everyone in the transaction only get pays when the home sells, your agent, their mortgage person and the other agent should have caught this and gotten clarification and/or a new appraisal.

Lender are now almost to a point of being ridiculous on appraisals but they do want the correct value. For the next buyer, insist on having the appraisal reviewed by everyone mentioned above should ask to see the appraisal before it goes to the lender!