All Forum Posts by: Jack Sickels

Hi there! I got the CMA. Here is some of the data. My property's price is highlighted in red, the 'subject'. I do have a rather large separate building garage which doesn't seem to be listed under 'garage stalls'.

If I'm understanding this correctly, it's coming out higher than Zillow; Zillow's "Zestimate" is $346,800, saying a 2.8 % increase in the last 30 days alone.

My current loan balance (yes, a conventional) is around $268k. Would you go for the appraisal and submit it to the lender requesting PMI removed? Thanks!

Haha, thank you all for your fantastic input and for taking the time to read my words. I will try all these things, to be sure, probably in the order of your replies and some simultaneously, ha.

I did not know getting a market analysis from your realtor after the fact (after buying the home) was a thing, and great info/resources, Alex :)

I'll update here as I go along, wish me luck ;)

Hi there and thanks much beforehand!

I'm currently in year 2 of my first mortgage and according to Zillow (which I have a gut feeling may inflate values), I'm already at %.79 LTV.

I'd like to drop my $175/mo PMI so I've contacted my mortgage lender and a local appraiser.

I've already made improvements to the property such as removing a bunch of cracked concrete from the front yard, replacing with grass, plants and a nice paver stone walkway. I've also replaced the front door with a new stained and finished mahogany door that looks pretty impressive. I've added various things throughout the house and garage, though a new German shepherd has torn up the back yard. Regardless, the value seems to have gone up due to the market and I believe this place is also better than it was.

The appraiser said they don't rely on Zillow, Redfin, Realtor etc. but comparables in the area. I think this property can still hold it's new higher value in light of comps - for instance a nearby house of similar design/structure/square footage recently sold for 80k more than what I bought mine at in Jan/Feb 2021.

That being said, if my property is theoretically now worth say 339,000, and the nearby house sold for 369,000 a few months ago, say their interior is updated and they have .5 more bathrooms, I'd say that I could do the same to mine for 30k and therefore justify the value of 339,000?

However, the appraiser says they want $700 for the report so that made me think twice - I could just lose out $700.

I'm also eager to do this now due to market rumors. Should I appraise now? Is my understanding sound?

Thank you very much!!

Zip code is 97141.