Anybody having problems with property appraisal?

[Ismael Jimenez]

Hello everyone!

I currently own an fourplex in Del Rio, Tx that I built 11 yrs ago. The property is in great shape and needs a little face lift. I wanted to do the refinance with cash out option but the appraiser, the only one in town appraised my property at about $60 a sq. ft. Here in town, if you are lucky, a contractor charges about $100 a sq. ft. to build a building. Is there something wrong with this picture? I expected a higher appraisal. Any suggestions or options I may have?

Thanks