As most of you have become aware, appraisals have become increasingly difficult with longer time periods and values that can come in under on a regular basis. This new change has caused many transactions to go south and left buyers and sellers frustrated, since sometimes there is no logic or recourse.

Local appraisals are few and far between, and more and more the norm is out-of-area appraisers who have no knowledge of the area and sometimes do not even visit the property.

This has left real estate agents and mortgage brokers frustrated, but there are five simple hints that can make a difference.

1. When an appraiser calls an agent for access to the property, inquire if they know the area.
2. Remove the lockbox and meet the appraiser at the property with recent comparable properties (ie: help them because then they might help you).
3. Remove any inspections from the property or MLS that might cause questions.
4. If you do not feel comfortable with an appraiser, request a new one though reassignment without cause can be difficult.
5. Work with a mortgage company that hires local appraisers. In the East Bay, there are a few: RPM and LaSalle Financial.

If all else fails, hope and pray the appraisal comes in at value. Sometimes the seller is willing to renegotiate if the appraisal appears valid and buyers always have an appraisal contingency that will release them from the contract.

If you need any help, let me know.