| T O P I C R E V I E W |
| melody |
Posted - Sep 05 2012 : 3:03:02 PM
Any appraisers out there? Bankers, Loan Officers?
We have decided to pull all of our accounts at our bank after 19-years and re-finance through another bank. Today, DH told me that the house would need to be appraised as part of the loan process.
He also said they would be coming inside to take photos...I am overwhelmed with anxiety....We've sort of dug in after 19-years and the thought of someone actually going through the rooms taking photos has me in the throes of an anxiety attack! Yikes! Did I mention the basement??? It's not exactly on the lines of "Hoarders" but....
I have no idea where to start or how to prepare for the photo shoot. What will they be looking for?
I need help on this....any suggestions would be greatly appreciated.
Talk to me ladies...
****************************Well...after 4 solid weeks of painting, de-cluttering, renovating, cleaning and staging rooms AND completely redoing the upstairs bathroom including installing a new glass enclosed corner shower... I am finally racing down the home stretch. On Thursday of this week the appraiser will be stopping buy to take photos and file his report with the bank. It's been EXHAUSTING! Everyone pitched in weekend after weekend and evenings to lug stuff -re-organize and generally keep things spruced up around this old boat of a house. Just some last minute freshening up required next week, but this OLD house now shines like a new penny!
I don't ever want to let things slide around here ever again. My house looks so nice right now especially without all that "junk" cluttering up corners and closets!
Wish me luck on Thursday! Keep your fingers crossed...
Melody
Farmgirl #525
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| 10 L A T E S T R E P L I E S (Newest First) |
| laurentany |
Posted - Oct 14 2012 : 5:17:36 PM
Sounds wonderful Melody! Good luck with the appraisal. I hope it appraises for even more than you are hoping for!
Hugs,
~Laurie
"Little Hen House on the Island"
Farmgirl Sister#1403
View my New Blog:
http://simplesuburbanpleasures.blogspot.com
Life is not measured by the number of breaths we take, but by the moments that take our breath away.. |
| jan49829 |
Posted - Oct 14 2012 : 09:42:41 AM
Good luck, Melody. I am sure it will all work out well for you. All that hard work will pay off for you, I am sure.
Janet
Farmgirl Sister #3340
http://hardatworkcrafts.blogspot.com
http://Jan49829.etsy.com
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| Emily Anna |
Posted - Oct 14 2012 : 09:23:07 AM
Melody,
I will be keeping you in my thoughts this week and hoping your appraisal goes as you expect. When everything is over, you should post some more pictures of your house! I love, love, love older homes and yours sounds gorgeous!!
Emily |
| melody |
Posted - Sep 05 2012 : 8:01:08 PM
Thank you so much Lisa...
Melody |
| nubidane |
Posted - Sep 05 2012 : 7:01:36 PM
Melody,
I would LOVE to view a house of that caliper. I see SOOO many that are exactly the same (1 story ranches, room count 6-3-1 (6 rms 3 BR 1 bath), or the 2 story 8-4-2.1..8 rooms 4 BR 2 and 1/2 baths) It is SOOOO fun as an appraiser that sees the same thing day in & out to see a property that does not fit "the norm".
And the dust.. it neither adds nor detracts from the value.
Keep in mind ( & this is the hardest thing as an appraiser in this market), that we have to compare your property to similar properties in your market, or similar competing markets. Many homeowners are shocked by the decrease in values as compared to values of the 1998-2005 time frame.
Appraisers do not want to kill any deal, but we have an obligation to report the current market value, whatever that is.
I hope your transaction goes smoothly, &, once again, PM me with any questions.
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| melody |
Posted - Sep 05 2012 : 6:14:34 PM
Lisa...I could just HUG you right now! I am flipping out! Pics of every room....Oh man.
I realize that my home is hardly an article out of HOUSE BEAUTIFUL but good Lord it is a mess. It's like pulling teeth here to get anything done and it always falls on me to do it myself. If it means pushing back the appraisal another 10 days then I am going to insist on that just so I can get a handle on containing the clutter. Sorry to be so whiny about all this. I just know it's going to take a lot of hours and a lot of work to get it in order.
My old house is a sound as a dollar. Incredible workmanship built by a man who KNEW what he was doing back in 1905. And, when we bought the place I switched out all the modern ceiling fixtures and replaced them with period glass lightening fixtures that I collected years before we bought it. The floors are gorgeous-when they are waxed and buffed and all Maple-some areas you can spot Birds-Eye Maple. There is no carpeting in the house at all. And, I have crown molding 6inches wide as well as 6-inch wide baseboards throughout, original hardware on solid wooden doors, even a second staircase to the "maids" room which includes an aria window off the walk in closet that overlooks the back stair well. But, the cleaning OH the cleaning I'll have to do. One room at a time right?
Thank you for your generous offer to talk further....
I LOVE the story about the ski boat!!!! And YES dear Lisa I DO FEEL BETTER!
Mel |
| nubidane |
Posted - Sep 05 2012 : 4:57:31 PM
Melody
I am a certified appraiser & I have seen the good, the bad, & the ugly. I always tell my hubby, depending on what I saw that day, I either feel like I live in a mansion, or a dump.
What we look for is structural soundness, mechanicals in working order, and no safety issues (like a door off of a second floor bedroom with no balcony!) People live in houses. Personal belongings are to be expected.
In extreme cases, I usually make a comment along the line of: "Excessive personal property was noted in family room and bedrooms. Appraiser did not note any structural deficiencies, but makes no warranties. This is considered to be cosmetic only."
We have to comment on things like that, due to recent bank requirements of pics of EVERY room, in addition to outside pics as well.
If your house is structurally & mechanically sound, do not worry.
If you want to PM me with additional questions, feel free; I would even be willing to call you to set your mind at ease.
I recently saw a property that had a ski boat with a full size propane tank sitting inside of it, propped up like it hasd nowhere better to be. OYE!!! Feel better?? |
| melody |
Posted - Sep 05 2012 : 4:52:58 PM
Had to leave Wells Fargo...the fees were killing us. Sad though after 19-years of being with someone as personal as your bank.
The house was a steal when we bought it, but it needed everything. Only two windows opened in the entire house and both of those were in the kitchen-We've pretty much tackled the whole thing over the course of 19-years and the lot is huge.
It's the cleaning part that has me panicked. It took me three months to get the house ready for DD graduation last year and I didn't even venture upstairs let alone the basement. My sisters call me "The Picture Straightener!" It's a curse... and I am pretty much on my own as far as chores to get it into ship shape. Everyone here thinks I am creating my own anxiety and have been blowing my concerns off as being excessive compulsive...Sheesh....I'm exhausted just typing about it! Where to start?
OH my....the "appraiser" is not going to go into our closets is he???
Melody |
| kysheeplady |
Posted - Sep 05 2012 : 4:12:25 PM
Dawn, is right ... they don't care so much if your pillows match the sofa or not. They are looking for sq. footage, # of bathrooms, full or half. electrical and so on, and they do go by comps.
If you have been there for that long( assuming you bought at a good price) and no seconds on it, you should be fine.
Good luck, and good for you leaving your old bank!
Teri
"There are black sheep in every flock"
White Sheep Farm
www.whitesheepfarm.com |
| ddmashayekhi |
Posted - Sep 05 2012 : 3:11:29 PM
Melody, I worked in real estate for 10 years as a secretary & a few years as a legal secretary. Try to look on the computer for real estate property similar to yours in your area that is for sale or closed in the past year to get an idea of what the prices were.
I would tidy things up so that the size of the rooms and their best features can be easily seen. Emphasize all the improvements you've done these past 19 years. The appraiser will compare prices of sold homes comparable to your house. Even if there isn't a real match out there, they go with style of home, property size, and square footage of your house. I would think that after living there for 19 years, way before the market went berserk, that your house will comp out just fine for the refinancing.
Good luck with everything!
Dawn in IL |
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