I’m writing to tell you about our experience with TODD THACKER of THACKER APPRAISAL SERVICES, INC.
My husband and I were refinancing our house and the appraisal was completed on September 16.
We as well as our lender, American Financing Corp., felt that the house was grossly undervalued.
The major issue we had was with the four comparable properties used to value our home.
Three of the properties were in another subdivision across the highline canal (Broadway Estates).
One of the properties was in our subdivision (Southwood Add), however, this too was not an appropriate comp either.
This particular house sold for the same price ($325k) for the last two sales.
It’s located on a major street that connects Orchard and Arapahoe, which accounts for the low price.
Sadly, there were three homes sold in my subdivision closer to the time I was refinancing my house that were NOT used.
Two of these homes were on our street and were also ranches.
One of them sold for $410k. The other sold for $360k.
My house was grossly under-valued and we are still at a loss as to why the appraiser would not reconsider at the very least the two homes on our street.
The lender requested three times that the appraisal be re-evaluated for mistakes.
Three times the appraiser refused to alter his numbers.
So if you are planning to sell or refinance your house, make sure your lender gives you a list of the appraisers they use.
Otherwise, they will choose the next available appraiser.
I promise you that it’s worth waiting for an appraiser who will use appropriate comparables to price your home.
We can only conclude that Mr. Thacker was following an agenda that was not in our best interests.