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Article from the Washington Times about poor quality appraisal
September 14th, 2011 12:29 PM

When Leslie Hutchison, a Realtor with Fall Properties in Falls Church, listed a single-family home in Falls Church that included a parklike lot on a cul-de-sac, the land assessment was $80,000 higher than for three comparable homes because of the property’s oversized lot.

The home sold with a full-price offer of $635,000 the day after it was listed. When the appraiser for the sale arrived from Fredericksburg, Va., he valued the home at $600,000 and refused to add value for the additional land and the property’s location. He told Ms. Hutchison that he does not adjust for land unless the difference is more than an acre


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Posted by Stephen Rochkind, SRA on September 14th, 2011 12:29 PMPost a Comment

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