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Old 04-27-2011, 03:41 PM   #1
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BTW honey, we're going to have a home appraisal in the next 48 hours


DH and I are going to refinance our house to a 15 year mortgage. And DH came home today and told me that we'll be having an appraisal in the next 48 hours.

Here are some of my problems - and granted most of them are of my OWN making, but crap - I'm SOL here.

1. I've got a bedroom in explosion renovation mode - not only is the ceiling torn out, a wall is torn out, all the wallpaper is striped off, and two windows are out of the frames. I've got no hope of getting anything meaningful done in there in 48 hours, and as it is, I'll probably have to spend 2 hours just cleaning it up enough not be be embarrassed.

2. Because of #1, one of the rooms I HAVE remodeled is FULL of all the furniture that should be in the bedroom including a king-sized-bed leaning up against the wall (because DH has too much of his stereo equipment in there to set it up as a bed). So I can't even 'show off' one of my completed projects.

3. Not only is the basement slightly damp (as it often is in the spring) it is a mess - not 'Hoarders' a mess, but I've got at least 2 hours of shoving stuff around to do down there.

4. All the usual life crap: too many un-dealt-with papers on the desk, too many closets bulging at the seams, too many of DH's toys, too many of mine, ALL my winter clothes stacked 3 feet tall on a guest bed because I've been too busy to haul them to the attic.

5. The attic - you will never find a more wretched hive of scum and villainy - AKA a million empty boxes piled pellmell, boxes of books (packed away to make room during renovations), christmas decorations parked at the top of the stairs because it was convenient at the time, and a couple more speakers belonging to DH.

Ok. Here are the pros. Since our last appraisal I have:

- completed a renovation of a bathroom;
- completed two bedroom renovations (plaster/paint/etc);
- completed work on our 'sunroom' (insulation/wiring/drywall/paint);
- our cleaning lady washed all the windows while we were on vacation, along with doors, cabinets, baseboards, etc;
- I've done a bunch of 'curb appeal' projects this spring: weeding, lawn attention, mulching (16 yards^3), built several new flower beds that dress the place up, and all the spring flowers look great.

Don't mind the rant. I'm just trying to re-charge my batteries before I start running around like a chicken with my head cut off (oh, also spiffed up the chicken coop).

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Old 04-27-2011, 04:06 PM   #2
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BTW honey, we're going to have a home appraisal in the next 48 hours


Wouldn’t it be closer to 47 hours now?

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Old 04-27-2011, 05:00 PM   #3
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BTW honey, we're going to have a home appraisal in the next 48 hours


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Wouldn’t it be closer to 47 hours now?


After I freaked out a bit on my sweet husband about this. I realized I was being a rhymes-with-witch and apologized. He assured me that whatever I get done before the appraiser comes will be sufficient; that I can't expect to get everything I want to done; and that whether or not our carpets have been steamed cleaned recently will not drastically impact the value of our house.

So, I treated us to some Chik-fil-A for dinner and will get started by taking out the trash.
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Old 04-28-2011, 05:37 AM   #4
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BTW honey, we're going to have a home appraisal in the next 48 hours


I feel your pain! I know its embarrassing to let people see your place after it explodes. For some reason it seems to ba a daily occurrence at my house. I blame the kids. However, you can take some relief in 1- all the great projects you've completed inside and out. 2- the rest of the house is clean and you don't need a shovel to carve out a path. 3 -The appraiser is not coming to see how shiny your counters and floors are, but to assess the overall quality. 4- Most people have piles or corners that seem to grow or get away on us...including the appraiser. 5- trust me on this one- He has seen it all- He will know the difference between a project in the works or just an entire slovenly house. So don't worry.
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Old 04-28-2011, 07:27 AM   #5
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BTW honey, we're going to have a home appraisal in the next 48 hours


Noon tomorrow is go-time. So, t-28 hours. Better get to work.
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Old 04-28-2011, 07:40 AM   #6
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BTW honey, we're going to have a home appraisal in the next 48 hours


You'd think he would have gave you a chance to finish the job! That could make a big difference on the appraised price.
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Old 04-28-2011, 07:18 PM   #7
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BTW honey, we're going to have a home appraisal in the next 48 hours


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You'd think he would have gave you a chance to finish the job! That could make a big difference on the appraised price.
You think??? We know that having completed projects will boost the value.

This is getting rushed because if our home value has stayed stable (or -cross your fingers - gone up) then we can lock in an APR for a 15 year mortgage a FULL PERCENTAGE POINT less than what we are paying now. We can easily afford the 15 year payments - so hoping to save a ton of money in interest.

Spent the day tidying up, clearing counters to make spaces look bigger, moving some furniture around and otherwise generally making my house look like no reasonable human being lives here.

Tomorrow I have to:
- make some beds, clear off my dresser and cram anything else into my closet and close the doors

- move some things in our library to show off my remodel a little bit.

- tidy up my current work space - mostly just fire up the shop vac and put all my tools away.

- clean up and move around crap in my basement so you can walk down there without worry about tetanus (JK ). BUt I will probably spend 75 minutes doing some work down there.

Overall, totally do-able.
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Old 04-29-2011, 09:42 AM   #8
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BTW honey, we're going to have a home appraisal in the next 48 hours


As messy as you think your house is - just remember the appraiser has probably seen the worst of the worst.

Not sure about the 1/2 finished room haha.

By the way, what is "DH"? "Das Husband?"
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Old 04-29-2011, 09:46 AM   #9
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BTW honey, we're going to have a home appraisal in the next 48 hours


'Dear Husband' - if I call him that it's easier to remember that I married him for a reason. Many times it's ironic 'cause he makes me sooooooo crazy sometimes.
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Old 04-29-2011, 09:59 AM   #10
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BTW honey, we're going to have a home appraisal in the next 48 hours


I had an appraisal done 2 years ago when I refi'd.

I worried my self sick thinking the appraiser's eyes would fall out of their sockets. I worried for nothing. It's not like you're trying to sell the place. Mortgage appraisers know what they are looking for and it has nothing to do with the things in our homes that are temporary, like furniture or messy desks or things that are in the process of renovation.

In my case the only real reason for the appraisal was because since i was refinancing the new mortgage company wanted it for insurance purposes to protect their investment. The home's value is usually determined by similar property's selling prices.

The appraiser/adjuster will be looking for serious structural problems, serious electrical problems, a wood burning stove that isn't safe, holes in the roof...stuff like that.

In my case the guy was in and out in 3 minutes, then he took some pictures from outside the house and left.

I guess what I'm trying to say is, don't get yourself too worked up over the inspection.
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Old 04-29-2011, 06:24 PM   #11
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BTW honey, we're going to have a home appraisal in the next 48 hours


The inspector seemed competent and nice. She emphasized that the big issue would be finding comps. Here's hoping lots of other similar things have moved this spring.
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Old 04-30-2011, 06:40 PM   #12
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BTW honey, we're going to have a home appraisal in the next 48 hours


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The inspector seemed competent and nice. She emphasized that the big issue would be finding comps. Here's hoping lots of other similar things have moved this spring.
Good luck with the comps. I refi'd last year and the only 3 comps he could find were in less than desirable neighborhoods on "the other side of town".

Not much moving in my area lately. I ended up having to pay mortgage insurance due to that fact.

Still, knocked 2.375% off my rate and lost 11 years off of the note.
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Old 04-30-2011, 07:00 PM   #13
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BTW honey, we're going to have a home appraisal in the next 48 hours


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Good luck with the comps. I refi'd last year and the only 3 comps he could find were in less than desirable neighborhoods on "the other side of town".

Not much moving in my area lately. I ended up having to pay mortgage insurance due to that fact.

Still, knocked 2.375% off my rate and lost 11 years off of the note.
you are right. Our last appraisal was so bad because of the comps, that the bank disregarded it. One of the comps was 30 miles away! We're keeping our fingers crossed.

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