Went through this exact thing last year—thought I'd hit 20% easily, but the lender's appraisal came back way lower than expected. Honestly, felt like a total crapshoot. Ended up waiting another 6 months rather than fighting it. Saved me some sanity, at least...
"Honestly, felt like a total crapshoot. Ended up waiting another 6 months rather than fighting it."
Yeah, been there myself. If anyone else is stuck in this boat, here's what worked for me: First, I checked recent comparable sales in my neighborhood (Zillow and Redfin are your friends here). Then, I made a quick list of any home improvements I'd done—new roof, updated kitchen, etc.—and had that ready for the appraiser. Didn't magically solve everything, but it definitely helped nudge things closer to reality...
Totally agree with checking comps, but honestly, Zillow can be a bit hit or miss. When I tried ditching my PMI, the appraiser barely glanced at my upgrades—like my new deck didn't even exist, lol. Ended up pulling county records myself to show recent sales and even printed out receipts for major renos. Felt like homework, but it made the difference between waiting another year or getting it off my back sooner. Worth the hassle imo...
"Ended up pulling county records myself to show recent sales and even printed out receipts for major renos."
Yeah, I get the logic behind doing your own legwork, but honestly, shouldn't the appraiser be responsible for accurately assessing upgrades? I mean, if we're paying for an appraisal, isn't it their job to thoroughly evaluate improvements like decks or renovations? I've seen cases where homeowners go all out with documentation and still barely move the needle on valuation. Makes me wonder if it's really worth all that extra effort or if it's just luck of the draw with appraisers. Maybe instead of jumping through hoops ourselves, we should push back more on lenders or appraisal companies to hold them accountable. Has anyone tried disputing an appraisal directly? Curious how often that actually works...
Totally get your point about appraisers—it does seem like there's a lot of variability in how thoroughly they factor in upgrades. From my experience, disputing an appraisal can sometimes help, but it's not a guaranteed fix. Lenders usually have a formal reconsideration process, but you'll need solid evidence (like those county records and receipts) to even have a shot. It's frustrating, but unfortunately, appraisal outcomes can feel pretty subjective at times...
