I wrote a couple of one-star reviews for Paragon on other sites, and I'm going to go edit them and upgrade them to two stars. I was upset that the appraisal came in so low because I thought it was going to delay our refinance. I was wrong about that. We didn't need it to come in any higher.
But the appraised value made no sense to me. An excellent comp right around the corner is in process for $1.28 million. I know he couldn't use that property as a comp because it hadn't sold yet, but it was selling as ours was being appraised, and that's a 34% difference. The properties are very similar. He listed two-bedroom comps in our neighborhood selling at $950K (ours is 3-bedroom). He found 2 bedroom comps for less than $900K on much smaller lots, lots that back up to the train tracks (while the owners of those lots are scared about high-speed rail plans and eminent domain) and one lot on a busy boulevard at the edge of our neighborhood right near El Camino). Then he appraised our place at 850K. I thought we needed 900K for the refi, so I was angry, but I'm not as angry now that I know it doesn't matter.
I don't know if Mikey-Mike is actually Jessica, but I will say that I completely disagree that the folks at Paragon are rude. I actually really liked them. But anger rose up when I got the appraisal in the mail.
I would like to give more stars for friendliness, but I really don't think he did a good job with the appraisal. Sorry, John. I'll go tone down the other reviews.
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