We were initially worried about the appraisal because Rob had found a zillow report that appraised our house at $4000 less than our purchase price. Not good. We shouldn't have worried though, our appraisal judged the house to be worth about $7000 more than we were paying. And it also said that after necessary repairs of the siding, HVAC, and I assume various other things like the carpets and ventilation wells, then it would be worth around $21000 more than our purchase price (repairs that would take the house from an "average" condition to a "good" condition).
That is a nice WOOT figure! Especially considering that a house that is identical to ours in appearance, square feet, and LESS yardage sold last month for $26000 more than our house. And that house was stuck in the 90s- ivy wallpaper, hunter greens, and no updates in the kitchen and baths (older appliances and builder oak cabs). It was meh...
(From real estate listing)
Whats with the gap over the sink house designers?!
Basically, we were confirmed that this is a good deal yes, it just needs elbow grease and luvin'. In the end when we sell it on, the house should be a nice investment and a good turnover of equity.