Momentum Appraisal Group

Appraiser David Thomason appraised the house we were hoping to buy astonishingly low. It was lower than either the buyer's agent or the seller had ever seen. The house is a full gut remodel, remodeled by one of the agencies with the best reputations in Austin. He actually appraised it for $14,000 *less* than it was appraised for before it was remodeled, and he appraised it for $11,000 less than a much smaller house right down the street that was just sold. He only used comps in a much less desirable neighborhood. We thought something must have been wrong, so we sent the appraisal from before the remodel, the appraisal of the house down the street, a list of upgrades (which he'd previously refused to consider), and a number of additional comps showing just how far off he was. He said he would only consider three comps--too much else to read, I guess. So we sent him the three that seemed like the best. He wouldn't consider two, because he decided, for no listed explanation, that they were "of significantly higher quality"--again, every part of this house was just remodeled by a top firm in Austin--and did consider one "of slightly higher quality." That house was almost 400 square feet smaller than ours and in a less desirable area where home prices are lower, but still appraised for almost $45,000 more than ours. Despite "considering" it, he didn't change his opinion. We're not really sure what's wrong with this place or this guy, but I would strongly recommend against using them.

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