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I'm trying to refi my house and had an appraisal done last week. I think the appraiser might have been in that group. Comp still means comparable right?[:-banghea

That's been a problem around here. Because of the meltdown, the underwriters are choosing their own appraisers, and they often have no clue about how different locations affect the value of a house. I live near downtown, and my house is worth 100K more a few blocks away in one direction, and 100K less a few blocks away in another direction. The appraisers, who typically drive in from different counties, use comps from all three neighborhoods and screw up the final result.

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