Looking For An Appraisers Opinion

[Jonathan Sanchez]

I see a property in my local market that I can add value to by adding an additional bedroom to the property. However, when I looked at the recently sold comps in the area the purchase price varies on extreme levels.

For example, I looked at the recently sold properties in my potential area. Just a few blocks to the west a house with the same number of bedrooms sold for $155k with lesser square footage. However, a  few blocks south a few houses sound for $180k to $200k with even less square footage. It's really hard to anticipate what the appraiser would evaluate the property at which such huge margins. 

I tend to weight my estimated appraiser to the lower side to be conservative with my numbers. However, the range seems too wide to really be accurate.

If there is an appraiser who is willing to help me dig through this, please feel to send me a private message and I can give you more details. Otherwise, feel free to share your recommendations with the group. Thanks!