I own a house originally built in 1900. We completely remodeled (90%) of the house back in 2005, replacing all the electrical, plumbing, sheetrock, siding, flooring, arch features, etc. The original construction loan was $200K, and was backed by the original appraisal. Since then, every appraisal we've had done is around $80K, due to falling home prices and the market. We are trying to refinance since interest rates are incredible. The appraiser states a 1900 house has to be listed as a 1900 house. So although it's rebuilt, the house is still compared to old houses without any work done. Is it possible to have an old remolded house appraised at replacement value instead of comparables? What should we do? Hire an appraiser that specializes in old homes and give the bank appraiser a copy? At what point does an old house become a spec home (i.e. we took this to the bones and rebuilt everything except outside siding)? Any help is greatly appreciated.