I got my appraisal back this week, and I was so thankful to see that it’s good! It’s actually only $1000 under my purchase price from last February. Of course, that’s $3000 under where it appraised at that time.
Thoughts on this?
Well it’s frustrating to see that I put money into improving the house since the first appraisal and to see the “value” drop.
But on the other hand, I’m not looking to sell anytime soon. I didn’t buy this house as an investment property – I bought it as a place to live. So in general, I am just trying to be happy that the refi is going well and I will be saving money every month!