Appraiser misrepresents Princeton property

A Circle Pines real estate appraiser has been fined by the Minnesota commissioner of commerce for falsifying information regarding a Princeton home.

Read the complaint: http://unioneagle.com/wp-content/uploads/2012/09/search.pdf

Appraiser James Zweifel of 3943 98th Lane, Circle Pines, was fined $5,000 and waived his rights to a hearing or appeal before the commissioner of commerce in a document filed Aug. 8 in Anoka County Court.

According to a consent order filed by the office of Commerce Commisioner Mike Rothman, Zweifel misled a lending institution in a 2008 appraisal of the Princeton property.

Specifically, Zweifel:

• Failed to disclosure that the property only had access off of Highway 169 and was subject to over 19,000 vehicles passing by the property on a daily basis;

• Used a street photo of a quiet two-lane road and not Highway 169 when depicting the road adjacent to the property;

• Stated that all photos were original photos when, in fact, they were Multiple Listing Services (MLS) photos with the MLS copyright cropped off;

• Inaccurately reported comparable sales information related to the property;

• Misrepresented the distance compareable sales were located from the property.

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