I get this condition about every 6 months, and just love responding to it. One of the dumber questions I get from underwriting.
Underwriter: "Please make a comment on the appraised value of subject being higher (or lower) than the predominant value in the neighborhood."
Me: "In order to have a predominant, or median, value, it is necessary to have values that are both higher and lower. By definition, a median has an equal number both above and below it. In this case, the value is higher (or lower) than the median. The
underwriter will note that the value is well within the typical range as noted in the report and that several of the comparable sales were similarly priced."
I'd like to follow that up with "No adverse effect is noted on the value or marketability of the property due to the limited common sense and/or real estate knowledge of the underwriter", but I try to keep the sarcasm to a minimum.