Appraisials in 2019 Have they changed?

[David Roe]

Back in January I figured I would pull out some equity out of my current house I live in. I bought the house in March 2017 for $256,000 and it appraised for $298,000 when I bought it. The lawyer that owned in was already living in Texas with his new house and lawfirm and kept this house till his daughter finished school.  Got it at a good deal.  Zillow lists it today being worth $353,677. My plat was built in the 70s and my lot of land was sold to a contractor in 1986 and they finished my house in 1989 but on 2acres instead of the standard .48 acres in my neighborhood. Most houses in my plat are 2,600sqft and for livable space above the front door so is mine but I have 1,000 sqft of finished basement with a walk out back yard. So technically 3600 sqft compared to the rest of the neighborhood at 2600sqft.

I found 5 comps in my area with the same sqft close to the same age but i have more land, and they were sold for $290k to $350k. So I was sure I wouldn't have any issues, well long story short i first went VA and the VA appraiser Appraised my house at $268,000 saying something about appraisal rules have changed and that's all the house is worth. I submitted the 5 properties like mine from the 290k-350k that sold just weeks/months before my appraisal and she did not accept them. So i dropped the issue and decided to go another route, I was talking money and values to my normal local bank (US Bank) and the head loan officer at my location looked up my house and some comps and claimed she could get the value and loan at $330,000 with no issues. I told her I didn't want to go through the fight again but she insisted she could do it and do the appraisal for free on the house so i let her do it. Week later another appraiser comes, and few more days go by and they list the house as worth $278,000. The loan officer challenger the appraisal with local comps she herself looked up and they still denied the comps. What am I missing here? I know Zillow is not a binding appraisal system, but for it to be off by $60-75,000 in my price range seems off. Are appraisals getting tougher? The Zillow doesn't give my property any justice and the photos are old, we redid the flooring, paint and bed room sets on the third floor bed rooms and hallways, and basement has new LVT and paint and the bathroom was updated as well. I have replaced the kitchen with all stainless appliances, new AC and Furnace, and Water heater, new sump pump, new basement grinder pump, new pool pump, new pool cover, and done a lot of painting on the main floor of the house as well. Last year we also did about 15k worth of landscaping.

3721 Northfield Rd Dayton, OH 45415

https://www.zillow.com/homes/for_sale/3721-Northfield-Rd-Dayton,-OH,-45415_rb/