Bouncing off the WALLS excited!!!
We interrupt the Scott story for a mortgage update...
So this whole re-fi thing is a little stressful. We had the appraisal the other day, and the guy called and asked if it was okay if he showed up in about 20 minutes. Sure, why not?
I bent over backward to accommodate him as we have...well...not your average house in SOOOOO many ways. Comps (comparable sales of like age and sized homes in your area) are really hard to come by. After all, how many homes boast a 1200 square foot bomb shelter?
So the appraisal arrived at the lender on Thursday. I called Thursday afternoon, but it was still pending review. They said they'd call when it was reviewed. It's now Tuesday. Still no phone call. So I called them. And of course, my agent was at lunch.
BUT
Another agent was more than happy to help me. And even happier to tell me that the house appraised for $56 THOUSAND more than I had estimated. AND $98 thousand more than we paid for it 7 1/2 years ago! I am bouncing off the walls excited! Ultimately, those numbers mean little other than they should be approving our new mortgage any day now, but it is nice to know that even in this crazy market we are not doing too bad from the stand point of housing equity. With the re-fi, we will be here for a while, and those figures don't change the fact that this house's quirks mean just the right buyer has to come along when we finally do sell, but it still makes me happy :-). God is so good!
So this whole re-fi thing is a little stressful. We had the appraisal the other day, and the guy called and asked if it was okay if he showed up in about 20 minutes. Sure, why not?
I bent over backward to accommodate him as we have...well...not your average house in SOOOOO many ways. Comps (comparable sales of like age and sized homes in your area) are really hard to come by. After all, how many homes boast a 1200 square foot bomb shelter?
So the appraisal arrived at the lender on Thursday. I called Thursday afternoon, but it was still pending review. They said they'd call when it was reviewed. It's now Tuesday. Still no phone call. So I called them. And of course, my agent was at lunch.
BUT
Another agent was more than happy to help me. And even happier to tell me that the house appraised for $56 THOUSAND more than I had estimated. AND $98 thousand more than we paid for it 7 1/2 years ago! I am bouncing off the walls excited! Ultimately, those numbers mean little other than they should be approving our new mortgage any day now, but it is nice to know that even in this crazy market we are not doing too bad from the stand point of housing equity. With the re-fi, we will be here for a while, and those figures don't change the fact that this house's quirks mean just the right buyer has to come along when we finally do sell, but it still makes me happy :-). God is so good!
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