As my wife had mentioned in the previous post, we were expecting this to happen, but not because
I think the low appraisal happened because of a few factors. First off, the housing market sucks. Home prices declined here in
My wife and I are adding a lot of options to this house, many of which do not add value, such as the whole house audio system (including outdoor speakers) and surround sound in the media room. This home is also going to be approximately 4400sqft of finished area, but only a 4 bedroom with 2 full and 2 half baths on less than a half acre. Homes in our area with similar finished sq ft are often 5 bedroom with 3-4 full bath and sitting on more land and that’s what buyers expect, so that doesn't help with our appraisal either.