any real estate appraisers out there?

[mom2of2]

We have an appraiser coming out tomorrow because we are re-financing. We have been busy all weekend inside and out trying to make things look good. If it weren't for the stench of the dead cicadas we'd be golden. What excatly do they base the home value on? Granted the carpet needs replacing and we should really paint the kids rooms again will that affect the appraisal? I wish we would have had more time but DH just decided to look into re-financing on Friday.

 

[KimRaye]

From my non-appraiser experience, altho I work for a real estate attorney and have refinanced/bought a few times , cosmetic items are NOT part of a professional appraisal. How many rooms, the sizes of rooms, number of baths, garage, deck, patio, heating-a/c, plumbing, etc. are the main things. Any and all extras are helpful tho, i.e. a deck, larger garage, improvements in general.

In short, don't fret too much for a refi. Many lenders only do a drive-by (if that)!

 

[kadaten]

Around here what's most important is usually comps .... comparable properties and what they're selling for .... as similar as possible in style, amenities, quality, size, and area ..... and as recent as possible, too .... most appraisals won't include anything older than 6 months and around here (HOT real estate market) they prefer the last 2 months ..... The comps are used to justify the value they place on your home. AND there's nothing you can do to affect those, so don't stress and good luck!