Dennis Aarons & Associates, Inc.

"Hi Francisco - many thanks for placing a review for the services and I appreciate the commentary. I understand the results were preferred sooner, but please know that the environment was pacing itself into COVID. So it became necessary to take some extra time to understand the "market" impacts of the wider situation. Given this inorganic shift in the economy, researching the effects on real estate required a little extra time to help us navigate a deeper knowledge of the situation. However, I do appreciate your patience and am thankful for the opportunity and wider commentary. Thank you again for your business. Stay safe and healthy -"

"Hi Nicholas ? Thank you for your comments and for the opportunity to work with you. I think there may be a misunderstanding of how my services and appraisal values in general are determined. While it would be easy to simply ?average? previous sales as a way of determining values, this is not the way appraisals are done. The appraisal process is meant to provide an accurate analysis of market conditions as a primary focus, taking into account many factors. This does include viewing previously closed sales but the referencing of these sales is not done in a bubble. There is a technical way to adjust and analyze those sales, which trends them for a wide array of characteristics including condition, size, view, amenity and most specifically time-of-sale. Unfortunately, it?s just incorrect to assume that averaging the past year (or two) worth of building sales is the proper way of appraising a property and if it were that simple, you probably wouldn?t need a certified appraiser to manage the process. The conclusion of my appraisal "below the average" should not be seen as poor quality as your rating would suggest, but rather a reflection of where the market for such apartments was heading since the last sales activity. In real estate, values can change quickly with the market. Most of the sales you cite are from more prosperous time periods and healthier market conditions. It is my professional responsibility to consider market factors that have contributed to a decline since - especially since the market condition continues to evolve in a manner discussed in the appraisal and as we see today. In an ideal world, we all want our homes to price in line or even 10%-20% higher than what the last comparable received, but often markets don't perpetually increase and continued upswings in real estate prices do get impacted. I stand by my conclusion which is based on my expert analysis of the market and property I valued. I would ask that you consider this in the future when providing such ratings of 2.0 and 2.5 because they are misleading to others seeking my services. Should you wish to further discuss my position on the valuation and where the market has headed since, I would be happy to review them with you. Thank you again for your business. Stay safe and healthy -"