This is a very common problem. This country is in some hot water and the average Joe on the street is not understanding that most States are in big trouble and values are dropping! The appraisers are running scared and are being told they are going to be Liable if they come in too High! So they are coming in at the low end and taking 5% more off of that.
This very conservative posture is messing up home sales, refinances, Credit Lines, and a myriad of other legal startegies. So this is the state of affairs we are in and it has been led by the builders we have out here dumping these new homes on the market. It is a big sell off and people are scared and dumping their homes fearing we are on a sinking ship.
Fear is the devils Mistress. And she is dancing all over this country and its people. Sad thing is that it is mostly fear that is causing this over real economic issues.
Get another appraisal and make sure that your home is not being compared to distress sales or the lowest comps on the market. That is an incorrect method. They need to take good middle of the road sales that are nearest to your home! Hopefully that is something you can get done!
A seasoned Realtor can be a great resource in this regard as well and can give you comparative sales and values as well.
Now Get your chin up and get off the mat and fight for your right to get a good value! Take Two aspirin or have a galss or two of your favorite fermented grapes and call me in the Morning!
Best wishes Minnie!
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