Steve Nichols Appraisal Service / Under-valuating properties
Steve Nichols is known in the real estate industry as an extremely conservative appraiser...always has been. Owns what once was a large appraisal company. But in the last couple of years, with the regulations and his shrinking company, it has made him even worse. Time and time again, we have all parties agreeing to a fair home contract price (buyer, seller, both agents, lender, etc) and the deal falls through if they have the misfortune to be assigned Steve Nichols as the lender appraiser.
Steve just won t appraise for the real value and is unreasonably restrictive on what comps he will use. He is more about saving his own business and his own work than about being fair and reasonable on his appraisals. It s costing everyone sales and the real victims are the sellers and buyers when a legitimate sale cannot go through because of his low-ball appraisal.
With appraisals now going to management companies to assign appraisers, it has made it like a lottery. And if you draw Steve - all involved definitely lose.