My cash out refi appraisal came in 60k lower than the online estimate
I pulled cash out refi numbers on my place in Phoenix and the online tools said 410k, but the actual appraisal came back at 348k, which killed my loan to value and left me 22k short of what I planned for, has anyone else had that big of a gap between the digital estimates and the real thing?
Figured Phoenix appraisals are still running a bit hot on those online sites, they pull data from older sales and don't account for the spring slowdown or all the new builds dumping inventory. Next time just slash 15% off whatever Zillow tells you and you'll be closer.