Is there a comparable in that neighborhood? To check on this you should contact
an Agent who specialize in that area to campare what the appraisal report and
the Comparabale given by your Broker/Agent. I know the bank are trying to do the
best as they can right now.
There are new regulations that limits the communication that a lender can have with an appraiser. Talk with your loan officer to see if they have any recommendations for you.
Depending on the area you are in, there may be limited comps to choose from. However, it sounds like you are saying that is not the case - that there were better comps that the appraiser did not use.
Before spending money on another appraisal, I would ask to visit with your original appraiser. If you have specific properties in mind that you feel are a better fit with your home, I would ask him/her to explain why they were not used.
If the appraiser cannot give you a satisfactory answer, then by all means, ask for another appraisal. But, they may be able to shed some light on the market that you have not thought of. This could save you time, money and more aggravation.
You may want to do the homework on comparable home values before you apply with another lender, as having too many credit inquires can have some effect on your credit score. I'm not affiliated with a lender - - I'm just making a suggestion that you think your situation through. You could contact another lender to let them know you may be shopping around for loan terms, rates, etc., & ask what effect multiple credit inquiries might have on a borrower's credit score.