EClark Group Appraisals, Inc.

Edward Clark of EClark Group Appraisals, Inc. was the appraiser hired by Third Federal to appraise our home for a refi. To my amazement, I was in total shock to learn of his appraised value. Mr. Clark is absolutely clueless about what he is doing. I provided a CMA collected from the MLS section of the DABR Website. I had factual proof, based on my neighborhood, of what homes that are 4Bd, 3Ba, over 3500sf have sold for in the last 4 months in my neighborhood alone (average price $517K). His evaluation of my home was nearly $100K less than the current closings of homes smaller than mine. Based on the CMA (180 days) the average price per square foot is $160. He valued my home at $109 per square foot (He originally had it at $103 until I ask for a review to get it right). What is alarming of his appraisal is that it is in no way consistent with the trends of the included comps, excluded comps (CMA from MLS previously shared), and current inventory of spec homes for sale in my neighborhood. I would never hire his services nor pay a dime for his inept abilities. I am just thankful I did not have to pay out of pocket, up front, for his services. How this individual became a "certified residential real estate appraiser" is comical. I would like to think that there are higher expectations from DABR, Banks, and Lenders for the vendors they endorse to provide services for their customers.