The New World of Appraisals
By An Marshall, Your St Augustine Real Estate Consultant
(Berkshire Hathaway - St. Augustine)
I recently met an appraiser at a sale I had in SeaGrove, St. Augustine, Florida. He mentioned that he enjoys meeting with different offices to share information in a talk he entitles "Appraisers are not the Enemy." We had him address our office meeting today. This professional was indicating that if there are enough sales in the subdivision, they are not supposed to leave that neighborhood for others. They need 3, of which can be a combination of pending and sold (altho the REALTOR has to be willing to share the price of the pending). If they don't have the number of comps in the neighborhood, they go back in time. They also need to use at least 2 actives and then a variance of list/sale ratio of what they will sell form. It takes 6-7 hours of work to do an appraisal (sound famil...
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