…Jonathan Miller, president of the Miller Samuel Real Estate Appraisers, says appraisers are facing an increasing number of accusations from buyers and brokers that valuations are coming in too low and under the agreed upon sales price in housing markets where prices have jumped rapidly in recent months….
…Acccording to Miller, most property valuations are valid, but a big contributor to the problem is due to markets that are moving too quickly and “inconsistently.” The markets that are seeing particularly scarce inventories and bidding wars may see valuations that can change “within a couple of weeks,” Miller said….