Wonder why we are in this mess?

"A wise appraiser once told me: Everyone in the sales transaction is smarter than the appraiser because they already know the number. The real estate listing broker and selling broker, the mortgage broker, the lender and of course the buyer and seller all know the number. The appraiser is the last one to the party."

From a real estate agent:

Dispute the Appraisal

# Ask the lender for another appraisal. The lender may send out a new home appraiser or ask the original appraiser to reevaluate the property.

# Ask your agent to find out which houses were used as comparables. Does the agent agree they were good comps? Most appraisers haven't seen the comps up close and personal the way agents do. The home appraiser might have unknowingly used houses that needed a lot of work. If poor condition is verified, ask the appraiser to investigate the comparables to see if adjustments should have been made.

This is why i hate real estate agents, TOTAL BULLSHIT ARTISTS.