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Reply to "Question about PMI and refinancing"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]the appraisal is based strictly on comps. they will look at similar recent sales only and this will figure above all else. Sorry.[/quote] yes, but being friendly and liking our appraisers favorite football team has helped historically. Not even kidding- he asked what we needed and it came in just at that. So, if you are way off it won't get you there, but if you're close, turn on the charm! (Unless your appraiser is cranky- then nothing works.)[/quote] Also, consider printing out a list of *real* comparables if you feel the appraiser may not know the neighborhood well enough to do so. We live in a gentrified neighborhood that's several blocks from more marginal neighborhoods in DC, and neighbors on our street have seen appraisals vary as much as 40%. Ever since the appraisal process was "reformed" you see a lot of appraisers coming in from far-flung exurban areas downstate and elsewhere who have no experience with DC neighborhoods, or urban neighborhoods in general for that matter. You can really get screwed over by their inexperience.[/quote]
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