[quote=ljinvestor] So you know, price per square foot is not an acceptable appraisal methodology. [/quote]
Ummm… I will agree that price per square foot ALONE is not an acceptable appraisal methodology. But if you look at most appraisals – which are a complete joke – just about ALL they focus on is price per square foot with “adjustments.” Now I don’t think this is the right way to appraise homes, but this is the way it is. So, I’m a little baffled by the appraiser’s comments to you on this point.
Personally, I think an income (re: rental equivalent) component should be integrated into SFR appraisals, but that will happen when pigs fly.
