Anyone else having appraisal problems?
I bought a property just over 3 months ago for $50K. I put $7K into the property and listed it. I went into contract at $86K to an FHA buyer. There are 5 other strong comps in worse condition with less square footage that sold for the same or more. The highest at $100K. The FHA appraisor came in at $71K as a value for my home. He knows what I paid for the property and roughly what I put in, and I believe this weighed more heavily on his decision than what the market is doing. Any thoughts/advice?