However, the appraisal industry seems to be in a state of change....We have had a few problems lately. Your broker should do his own comps and politely offer them to the appraiser.
(we had an offer recently for full price. The buyers bank sent their appraiser out and he low balled it based on a nearby short sale. We showed our comps but ended up having to drop the price to close the deal. It was an FHA appraisal, which becomes somewhat of a public record for any future buyers)
If the home is here in Highlands Ranch there should be plenty of readily useable comps for an accurate appraisal. As another poster answered, the appraisal should have homes with 3 or more bedrooms. However, if the appraiser used less you could use a paired sales approach to deduce the amount of a bedroom and adjust accordingly. Was there no adjustment made? What was the purpose of the appraisal?
Joe Hildebrand, Realtor
If you have an appraisal where the subject property has 3 bedrooms, and there are comps with 2 bedrooms, those comps are not valid and violate appraisal regulations (USPAP), and FNMA, HUD/FHA, and lender guidelines and requirements. The appraisal would be considered misleading and possibly appraisal fraud.
And yes, there is an industry formula for determining adjustments for differences of such amenities (in valid comps), whether it be bedrooms, baths, garages, pools or other differences. It is called matched pair analysis and takes in consideration market reaction to such differences and every market area is different in the monetary or value reaction of buyers.