Mayer Appraisal LLC

To Whom It May Concern:The following information is provided in response to the complaint by the customer regarding the real property appraisal Iperformed on her home.Due to the confidential nature of the appraisal process and strict guidelines regarding interaction between the appraiserand homeowner, more detailed information than what is included in this response cannot be provided the customerIhave been performing residential real estate appraisals for years, and have worked in the Blaine County area for wellover of those yearsI purchased a home in Elkhorn and have offices throughout Southern IdahoI have performedthousands of appraisals in Blaine County and the implied allegation that I am not from the area and therefore do not knowwhat I am doing is patently false.There is a common misconception with many homeowners regarding the treatment of homes with basements in theappraisalThe customer’s home is a split-level; as such, because the lower level is partially below grade, it cannot beincluded in gross living area, per ANSI standard measuring guidelines(These guidelines govern the way homes aremeasured and below and above grade living area and rooms are treated for appraisal purposes.) Therefore, the subjectproperty is approximately square feet, with a square foot basementThe rooms in the basement, includingbedrooms and bathrooms are not included on the main grid of the appraisal and are adjusted for separately in the report.This has a substantial impact on the comparables that can be used to establish valueComparables provided in theappraisal report bracket all pertinent features of the subject property, including the single above grade bedroom andbathroomComparables were chosen not only because of their similarity to the subject in age, room count, and above andbelow grade area, but also to meet lender guidelines.There is no data to support that comparables are going for over $325,In the subject’s defined neighborhood, half thesales in the last year (as of the date of this response) sold at or below $250,Home sales in the area in the $325,000range are significantly newer and/or larger than the subjectWhile it is understandable that the customer is disappointedwith the results of the appraisal, I was hired to provide an unbiased opinion of the subject property’s valueIf thecustomer has issue with the appraisal, the value, or any information contained in the report, the proper course of action isto discuss these issues with their lenderA value reconsideration can be pursued, in which additional comparables that thecustomer feels are more appropriate may be provided for reviewI can then respond through the lender and/or vendorMayer Appraisal, LLC PO Box TF: (208)734-Fax: (866) 372-Twin Falls, ID Corp: (877) 750-www.mayerinc.com management company that owns the rights to the appraisal as appropriateAnother course of action may be an appraisalmade “subject to” the improvements the customer desires to makeIn this instance, value for the improvements would becredited to the customer in the appraisal, and a final inspection would be performed to ensure that the upgrades had beencompleted as required by the appraisal report.I hope this resolves the issue for the customer.Sincerely,Mac RM***CRA-

To Whom It May Concern:The following information is provided in response to the complaint by the customer regarding the real property appraisal Iperformed on her home.Due to the confidential nature of the appraisal process and strict guidelines regarding interaction between the appraiserand...

homeowner, more detailed information than what is included in this response cannot be provided the customer. Ihave been performing residential real estate appraisals for 40 years, and have worked in the Blaine County area for wellover 25 of those years. I purchased a home in Elkhorn and have offices throughout Southern Idaho. I have performedthousands of appraisals in Blaine County and the implied allegation that I am not from the area and therefore do not knowwhat I am doing is patently false.There is a common misconception with many homeowners regarding the treatment of homes with basements in theappraisal. The customer’s home is a split-level; as such, because the lower level is partially below grade, it cannot beincluded in gross living area, per ANSI standard measuring guidelines. (These guidelines govern the way homes aremeasured and below and above grade living area and rooms are treated for appraisal purposes.) Therefore, the subjectproperty is approximately 980 square feet, with a 980 square foot basement. The rooms in the basement, includingbedrooms and bathrooms are not included on the main grid of the appraisal and are adjusted for separately in the report.This has a substantial impact on the comparables that can be used to establish value. Comparables provided in theappraisal report bracket all pertinent features of the subject property, including the single above grade bedroom andbathroom. Comparables were chosen not only because of their similarity to the subject in age, room count, and above andbelow grade area, but also to meet lender guidelines.There is no data to support that comparables are going for over $325,000. In the subject’s defined neighborhood, half thesales in the last year (as of the date of this response) sold at or below $250,000. Home sales in the area in the $325,000range are significantly newer and/or larger than the subject. While it is understandable that the customer is disappointedwith the results of the appraisal, I was hired to provide an unbiased opinion of the subject property’s value. If thecustomer has issue with the appraisal, the value, or any information contained in the report, the proper course of action isto discuss these issues with their lender. A value reconsideration can be pursued, in which additional comparables that thecustomer feels are more appropriate may be provided for review. I can then respond through the lender and/or vendorMayer Appraisal, LLC PO Box 1302 TF: (208)734-7935 Fax: (866) 372-6493 Twin Falls, ID 83303 Corp: (877) 750-4446 www.mayerinc.com management company that owns the rights to the appraisal as appropriate. Another course of action may be an appraisalmade “subject to” the improvements the customer desires to make. In this instance, value for the improvements would becredited to the customer in the appraisal, and a final inspection would be performed to ensure that the upgrades had beencompleted as required by the appraisal report.I hope this resolves the issue for the customer.Sincerely,Mac R. M[redacted]CRA-41