One stupid guy

[Renee Allen]

When I first started appraising about 10 years ago, there was this new subdivision in Lowell Arkansas. This subdivision was your typical cookie cutter subdivision, the houses were around 1200 to 1400 square feet new homes typical 2 car garage vinyl exterior some had fireplaces, etc. At the time they were selling around $70,000 to $80,000. Then one day some stupid guy goes and buys one of those cookie cutter houses for $120,000. What was he thinking????? What was the appraiser thinking??? Anyway, to make a long story short, the deal actually went through. So, the neighbors think... well if they can sell their house for that then I have a deck instead of a patio so mine is worth $125,000 and they put it on the market and so on. Not long after that is when the market went baaaazerk!!!! Now look at it.... I blame the one stupid guy and the sucky appraiser for the whole mess that we are in today.