It seems that all those folk with high end customized properties are really in a bind now if they are going to resell or refinance. OK financing for such properties was always harder than the average house, but now with appraisal management companies increasing their power and therefore bureaucracy to the point where such appraisals do not fit into the system anymore.
To make things worse you might have someone literally thousands of miles away making a judgement call on the value of your home. This is because after the appraiser has finished his work and a third party can rip it to pieces without even seeing your home. Unfortunately the people employed in these positions have not been into the field for years and would probably do a worse job on the whole. It is very easy to rip into an appraisal nowadays because data is very limited. More importantly these employees are told to be ultra conservative and with their integrity corrupted by corporation culture they will do as they are told.
So I'm very sorry to all those rich folks who might have to sell or refinance. May I suggest passing your house down through the generations and saying " screw you".
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