Hi, I purchased a home in Maryland Heigts, 1 year ago and now want to refinance. The appraisal was done today, however, he was only here for 20
mininutes and took a picture of each room. He asked me about upgrades and I told him of the things I had did. He then said "You basically purchased the home already upgraded". Is this good or bad that I have not had to do too much do to being fully upgraded at purchase 1 year ago?
Vorrez,
It is actually not good. By now, you know what the appraisal came in at. I bet you it came in at or below what you paid for it last year. Probably, 1-2% below last year. Please let us know.
It is definitely not bad. This may be a good time for an appraisal because summer bring about more sales and that may have caused the prices to rise above last years. If you're home is already updated it should appraisal the top of the range of homes sold with the same # of beds and baths.
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