Your question is invalid.
All appraisers do not SOLEY rely on area sales
Appraisers have several valuation models that contain influencing elements which can be used based on:
1. Who requested the appraisal
2. Type of property
3. Availability of comparable sales (time limited)
4. Purpose of appraisal
5. Market conditions of that community
6. Replacement cost
7. Area sales (scheduled depreciation/appreciation)
8, Comparable Sales (remote)
9. Adjusted sales
Real Estate professionals use the same methods but also bring into the equation intangible 'quality of life' factors for which a potential buyer WILL pay.
The real estate professional who is relying on the appraised value to validate a sale is leaving the home seller in a very vulnerable situation. This can not be allowed. One should anticipate low appraisal values (the appraisals are rigged but not by the APPRAISER) and have counter measures in place to negate the predictable influence.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL