Guess at Refi value?

[Alex Deal]

Bought a 3/1 in cosmetically roughy shape with a dead central ac unit.  Had some mold/mildew built up inside and very dirty white paint.  Appraised for 70,000k. I installed new ac unit, repaired and painted outside, kilz the. Painted entire inside.  Comps in the area are 90-95k.  Do you think those repairs could bring it in line with those comps?  Could fixing all of that raise an appraisal 20-25k from a year ago? 

[Greg Kasmer]

Alex - When you say "cosmetically in rough shape" are you talking about the mold/mildew issue or other parts (kitchen, bath) of the home? I think the appraisers will compare the finishes in Kitchen and baths when comparing homes and determine if they are relative comps. I'd also had appraisers ask the type (and how much) work was done to the house. If you installed an A/C and painted the house I could see them determining that is about $15k worth of work to the house and maybe get you a $85-$90k ARV assuming the kitchen and bath is similar to other comps. Good Luck!