Are appraisers pulling the market down?

[Ben Haab]

Is it a trend that appraisers are consistently coming in short?

Multiple offers at the same price and an appraiser won't support the price.

Full story:

Flipped 1827 Hepler Dr, Warsaw, IN (look it and how beautiful it is...)

Listed 154,900 

Under contract at 150K within a week and half after many showings and a different offer from a buyer without real credit approval. Appraisal comes back at $115K. VA buyer...dead deal, put house back on the market.

Under contract again at 149K within 2 days with a USDA buyer.  Appraisal just in at 136K.

My house: 4 bed 2 bath fully updated including mechanicals

Appraisal 1: 3 comps.  Comp 1) 3 bed 1 bath manufactured house without the title retired (so you can't get financing). Comp 2 & 3) both 3 bed 1 bath homes that weren't updated and sold a year and half ago

Appraisal 2: 3 completely different comps. Closest real comp is in the same addition but the sellers disclosure listed many defects including the roof.

My point: what is an appraised value supposed to be?

Per Google: "A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth." If that's true then the market supports my sale price due to multiple buyers offering the sale price and very stable economy in our area.

Note: my realtor is appealing the appraisal and providing better comps, but in realty this rarely works.