Appraisals cont'd

Why does that implicate the appraiser? Because they have to blame someone and often the broker or loan officer that originated the loan is no longer doing business. The one constant is the appraiser or real estate broker, if a purchase.
My background and experience are as a broker and loan officer but I see the appraisers being abused by all parties and wish to state that they are probably the least likely to 'fudge' anything. The first abuser is the loan officer trying to make a close valued deal, he will intimidate, entice, or beg the appraiser to come in with a certain value.The appraiser, if they are honest, don't even want to know what value is needed.The appraiser doesn't want to lie and the reason is that they have accountability as noted above. The loan officer, in most states, doesn't even have to take any course work or pay for even a license, the broker they work for has to pay for licensing and in some states has to take some coursework and the appraiser always has to take coursework and pay for the license and insurance. They have a large financial stake in giving the correct value.
That being said an appraisal is just an "opinion". It is based on real factors and if done correctly can be a very useful tool to lenders and buyers as to the value of the property. But it is still an opinion and there is no 'exact science' of appraising. You can send two or twenty-two appraisers to the same site and you will likely have as many opinions as you send out. Some of the values will be the exact amount but the "work-up" to arrive at those answers will invariably vary.
So, to review the work of an appraiser SHOULD be to verify the information provided but too often it is seen as a negative. There was a case where the appraiser came in thirty thousand less in value than he should have done and the evidence sent by another appraiser to refute that value was not even looked at. Reviews should go both ways but they do not.
In summary, if you want to know the value of a home use an experienced, licensed appraiser and if you do use a website to verify the value, use the county assessors website, if available, as they usually have verified the value for taxing purposes. However, there is one caveat there, the assessor is nearly always fifteen percent or more lower in actual value so as to not anger the taxpayer by asking him to pay higher taxes. You will have to pay for an appraisal but if you are serious about needing to know the value, it is worth it.