trying to refi, our appraisal came back with 20% decreased value due to "excessive road noise" due to living on Gravenstein Hwy So -- what can we do?

Asked by tburk, Sebastopol, CA Wed Jul 3, 2013

This question was asked from http://www.trulia.com/homes/California/Sebastopol/sold/17112…

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5
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Thu Jul 4, 2013
tburk,

When we have situations like this here at RPM, we can appeal the appraisal. I would be curious to see the actual report and how the appraiser adjusted the comps for this attribute. I agree that sometimes the appraisers are not familiar with an area and this can contribute to an excessive hit to your value. If you'd like me to have a look at the report itself, let me know and I'd be happy to advise --- free of any charge or obligation.

Rob Spinosa
rspinosa@rpm-mtg.com
1 vote
Terry Bell, Agent, Santa Rosa, CA
Wed Jul 3, 2013
You might want to ask if the appraiser was local or from out of the area. It's not unusual for appraisers to be from out of the area and not familiar with our wonderful county. The appraiser should have some comps for you to review; like going to the doctor, sometimes you need a second opinion!
1 vote
Dot Kostriken, Home Buyer, Sebastopol, CA
Sun Aug 4, 2013
Mitigation of noise can be accomplished by dual pane windows, plantings of large shrubs, & trees, to block sound, placement of bedrooms to rear of home, heavy drapes/shutters, carpeting, etc.
Traffic will only grow greater w/time, and many people cannot adjust to constant noisy road traffic.
0 votes
Bill Facendi…, Agent, Sebastopol, CA
Thu Jul 4, 2013
There must be other factors involved in regard to the decrease in value. While noise and a busy road will have impact on value it is hard to quantify a percentage. I would suggest speaking directly to the appraiser to understand the valuation that was performed.
0 votes
Barbara Ellis, Agent, Rohnert Park, CA
Wed Jul 3, 2013
Unfortunately being on a busy road does have a negative impact on value. Not only does it effect the value but the time to sell is increased. Hopefully market improvement will translate to a higher valuation in the months to come.
0 votes
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