Smith Farm market activity report...last 90 days of sold properties

Looking at the properties that have sold within a subdivision in the previous 90 days is a big factor in arriving at a valuation that an appraiser may report back to a lender. Generally, appraisers will try to find enough "comparable" (not identical) sales going back only 90 days. If there are not enough, they will continue to go back further.

I have seen instances that, for whatever reason, where appraisers have passed over recent sales and used older sales in their valuations...and it has resulted in an "appraisal review" being called for and usually ends with a lowered appraisal.

Below are all the reported sales in the last 90 days:

1. 3 BR. 2.5 bath, 1 car - 1737 sq ft. - (model 719) - Rockport - $175,000 - (bank owned)
2. 3/2/2 - 1600 sq ft. - Oak Grove - (model 745) - $198,000
3. 3/2/2 - 2166 sq ft - Copperfield - (model 1141) - $206,000 - (short sale)
4. 3/2.5/2 - 1821 sq ft - Rockport - (model 722) - $206,250
5. 4/2.5/2 - 2050 sq ft - Columbia - $217,000 - (bank owned)
6. 3/2.5/2 - 1821 sq ft - Rockport - (model 722) - $218,000
7. 3/2.5/2 - 1821 sq ft - Rockport - (model 722) - $220,000 - (bank owned)
8. 4/3/2 - 3017 sq ft - Copperfield - (model 1139) - $227,000 - (short sale)
9. 3/2.5/2 - 2694 sq ft - Pool - Columbia - (model 718) - $229,000 - (short sale)
10. 3/2/2 - 2166 sq ft - Copperfield - (model 1141) - $245,000
11. 5/2.5/2 - 3638 sq ft - Great Oak - $315,000 - (bank owned)