Pacific Home Appraisers

The "appraiser" Paul, spent approximately 5-10 minutes in our home taking pictures, warning us that house prices had dropped by 50% in Calabassas. We live off Mulholland in Sherman Oaks. We received our appraisal from the loan company and were surprised by the gross underestimate of our home's worth. We understand home prices have fallen but the extent of the underestimate was ridiculous. The appraiser used mostly foreclosures in the neighborhood which did not have equivalent square footage or equivalent upkeep of the home. Our credit union does not allow a second appraisal so we rebutted the appraisal and pulled comps based upon nearby similar houses that had sold for 300K more than the appraisal. The rebuttal was quickly denied. On closer inspection, the documented appraiser on the paperwork (with license) was not the person who came to our home. I would think twice about using this company. Their business practices are suspect.