We just received our Refi appraisal report (the rough draft, we don't have the signed one with all the photos yet).
And the good news is we appraised at $395,000 which is above the number we needed which was $348,000. And we are only down $20,000 from our last appraisal in 2009.
So, we should be able to move forward with our super awesome Refi terms. There is a re-review of the appraisal, this is part of the process now, so there is a chance that the Refi could be derailed if the appraiser really screwed up. I've not studied the report or the comps yet, except for the one comp which I suggested he utilize and, therefore, was already aware of based on my own research.
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