We knew we were in for something when the guy shows up and asks us if he can borrow our tape measure to do the square footage calculation (his apparently broke). Needless to say, we just had an appraisal done in December 2013 and the square footage was off by over 100'. In addition, he used new construction comps instead of houses that were around the same age as mine when there were plenty available (like I said, we just had one done a year and 4 months ago). He discounted the new construction by a whopping $50,000 (houses that sold for $465,000 last month are now worth $415,000 compared to my 9 year old house). Someone please help me understand how a house loses $50,000 in value in 9 years?? My property has a large pond on it that none of the comps had yet the comps were not increased at all for this adjustment. Just 16 months later, this appraiser appraised the property $27,000 lower yet the neighborhood has steadily increased in value over that 16 months. Hmmm...something doesn't add up! They were unwilling to adjust the value even after bringing all of this to their attention (my lender doesn't even agree with the value!!!!)! Needless to say, the appraisal came in way under value which ended up costing me big time! If you need an appraisal, go with someone else who at least knows how to measure square footage accurately.
Description of Work: Performed a residential appraisal.
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FAQ
PORT CITY APPRAISALS INC is currently rated 2 overall out of 5.
No, PORT CITY APPRAISALS INC does not offer free project estimates.
No, PORT CITY APPRAISALS INC does not offer eco-friendly accreditations.
No, PORT CITY APPRAISALS INC does not offer a senior discount.
No, PORT CITY APPRAISALS INC does not offer emergency services.
No, PORT CITY APPRAISALS INC does not offer warranties.