I recently got our appraisal in for a cash out refinace. It came in lower than we were expecting. (I'm sure everyone believes their home is more valuable than it is.) We live in Washington State, where the market is booming for sellers right now. I live in a neighborhood that has been established for about 4 years, oldest house is 5 years old. I have a 2200sqft, 4 bedroom, 2.5 bath, 3 car garage, 6700sqft lot, no damage to the house, built in 2012. The appraisal came in at $338,000. A home with the exact layout, but a 2 car garage, not 3, and a little bit smaller lot sold for $338,000 in July.
I thought for sure our 3rd car garage would have us in a little higher.
There is a 2015 sqft home in the same neighborhood with a 3 car garage that is pending at $387,000. It doesn't close for a couple more weeks.
My question is this: Is it worth getting a second opinion appraisal once it closes? Would we actually get a higher appraisal once it does close? Or would they just go off of the house with the same layout, no matter what?
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