Inaccurate Appraisals

Appraisals are easiest to do when markets aren't changing drastically.  They're tougher to do when the market is rising or falling fairly fast.  The faster things are changing and the more factors there are affecting the change, the harder it is to do an appraisal.  And, of course, like any other profession, some appraisers are better than others.  However, if the appraiser who did your report also does appraisals for banks and mortgage companies in your area, I'd expect her report to be fairly accurate.