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What is important in having a home appraised for refinancing? Does curb appeal make a difference?

seanmdoyle
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seanmdoyle

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May 13 - Graham

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Charlene Hanson, "Charlene Hanson"
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Charlene Hanson, "Charlene Hanson"

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While it wouldn't be prudent to spend a lot of money on landscaping, it would be smart to have the lawn mowed, etc. and tidied up. Remember the underwriter and/or bank review appraiser only see the appraisal comments and pictures.

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May 19

Sofia Nygaard, "Sofia Nygaard"
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Sofia Nygaard, "Sofia Nygaard"

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Just wanted to add my two cents. I have a good friend, who I also do business with, that is an appraiser and he's taught me a lot over the years. For the most part, like the guys said, curb appeal doesn't really matter. That is more important when you go to sell your house. So spending money on landscaping will not be worth it (unless you really appreciate a well manicured yard), but spending money on your bath or kitchen will be worth it. The biggest items that will set your home apart from others as far as quality/condition are the kitchen and bathroom. If you upgrade your home with slab granite, hardwoods and custom tile for example, that will make a difference in your appraisal. Other upgrades will too, like new carpets, stainless steel appliances, and other general remodeling (like to the sink and bath/shower) in the bathroom.

Other than that, it's just going to depend on the sales in your area as to what your home is appraised for. Upgrades make the biggest difference when your home is superior to those sales around you, it can help make up for (to some extent) the low end sales out there that might be bringing you down. Hope that helps!

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May 18

Kenton Becker, "Kenton Becker"
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Kenton Becker, "Kenton Becker"

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From an appraisal standpoint, curb appeal doesn't make a huge difference to the value. However, in some cases, if your home has been upgraded/remodeled recently and you take extreme care of it, the appraiser may adjust the value as "above average". If this happens then you might get a little extra out of the value.

Keeping the home maintained and the curb appeal high is going to have a greater effect on your ability to sell the home faster. But since this is a refinance, I wouldn't be too concerned.

Thanks,
Kenton

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May 13

Dave Skow, "daveskow"
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Dave Skow, "daveskow"

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Zillow All-Star

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Curb appeal isnt that crucial these days...if property is " average " it is likely to appraise the same as if the lawn is manicured and the home is spotless

if the curb appeal is below average ....this might draw the appraisers attention to defecinecies that might end up on the appraisal report ( moss on roof, foundation cracks etc........)

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May 13

Tammy Stockdale, "Colorado Mtg Broker"
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Tammy Stockdale, "Colorado Mtg Broker"

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It's important because the lenders need to know the value of the home in order to determine whether the house can be refi'd or not. As far as curb appeal? Well this has never happened to me, but I do know a broker and when the appraisal came back in, the lender required the homeowner to mow the grass and trim the bushes and have the appraiser come back out, take new pictures and then they finally proceeded.