An appraisal is a snapshot of what "that house" is worth on "that day". Like Barry, I would suggest you speak with a local lender that is in tune with the market in El Paso. Lenders here are just as concerned about value as anywhere else, but they know from seeing it on a daily basis, that the El Paso market is holding it's own. I have included a link to the Texas Real Estate Center Market Report for El Paso. Note that the housing data indicates a steady increase in home sales prices. As a member of the GEPAR MLS Board of directors I can also tell you that average home sale prices continues to climb every month. Jason, find a local lender. That doesn't mean it has to be a mom and pop mortgage broker, but steer clear of the online lenders with no local knowledge.