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Monday, May 3, 2010

Appraisal is in

The appraisal came back lower than we had hoped, but we are hoping to still salvage this deal. I don't feel the appraiser really factored in the products, finishes, and upgrades that we are going to have compared to the other homes he used in his comparison (one of which was a GoldenWest manufactured home) How does manuf. compare to stick built at all? Our builder has offered to walk the appraiser through a recent home he built with the same finishes and products he will be using for ours. I am sure the appraiser's job wasn't easy, appraising a home that isn't built yet, but still, we gave him all the information he needed to make a sound decision and it wasn't a very good one. It doesn't help that homes just don't move in this town, not a lot of sales or new construction to compare to so he used comparables from towns over an hour away. I feel confident that the bank will still take a chance on us because I am sure they know it will appraise higher once actually constructed. Let's keep our fingers crossed this all works out!

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