In 2004, our home appraised at $247K. What is the likelihood of it appraising higher now? Sounds silly.
I want to know if it is worth the trouble to get an appraisal for refinancing for debt consolidation. I don't want to pay $400 if there is no chance of the home appraising for more. The home is on 2.4 acres in Oak Grove, built in 1976, addition/remodeled in 1990's, split level, 4br, 2ba, approx 2800 sq ft. Remodeled bathroom downstairs in 2006, new roof in 2008 and new septic system this year. Has a large pole building, approx 18x24. Am I crazy to pursue this or is it worth looking into?
The best way to value your property is to look at comparable sales of similar square footage and age in your immediate area. This is exactly what an appraiser does. You could call a Realtor and ask them to do a competitive market analysis. Or call a title company and ask them for a property profile with comps on your house.
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