Appriasal pricing in WeHo

[Richard Smith]

What's a usual appraisal price in WeHo? 1600sf 2 unit in the flats. Quoted nearly 1200 by the bank, and it seems excessive. Wondering if I'm just out of touch with the market. 

[Lee Bell]

I would quote that more like $700 or $800 probably, for a duplex in WeHo. I always look up the property and see what I am getting into, or try to anyway, before I quote an appraisal fee. So if it's non conforming for some reason, and / or lacks decent comps, that could change / go higher. 

What's your zoning? The units are not large. How old, what is their condition? I am wondering about H&B use. Maybe time to scrape and build a tower! In which case you need a Certified General appraiser and much higher fee, but I digress.

Anyway, If the lender is using an AMC (Appraisal Mgmt Co) they are probably trying to make as much as they can for themselves, hence the $1200. But I'll not go down that rat hole.

Source of my info, me. I am an appraiser in the county since 1992.