When we refi'd in Fall '12, our appraisal came back lower than the appraisal/purchase price in Summer of '09. I was furious since houses in our area were being sold for 15%-20% more than I paid. Turns out he completely overlooked any new construction sale and used comps that were utter crap (smaller, in other areas of town, etc). We appealed, obviously, and had him come back and do it again. He claimed new construction sales "weren't in his system."
5/21/15 at 10:02am