Do I need railings? And question about comps

[Fernando]

Well funny you should mention that, because I did give him a list of houses I felt came close to matching ours in type of neighborhood (we aren't in a subdivision), house details, lot size, etc. I included 4 sales in the last two months, 2 pending sales, and 1 just listed. I had to go up to a 1.5 mile radius for the recent sales but the active listings are all less than a mile away. I also gave him a list of all the updates/renovations we made, with dates, and some details about what makes our location very desirable within our city. I heard that realtors sometimes do that. I was a little worried about offending him, but I also thought it might be helpful. So I'm glad to hear that I might have lessened his work somewhat.

And can I just say that I don't understand the market right now? In my city almost every recent sale I looked at was listed and had an offer within 2 days. And prices are definitely higher than I expected, and selling very close to asking price. We are a little suburb in NE Ohio, and houses don't normally move that fast. With covid uncertainty, job loss, etc, I thought things would be a lot slower.

Thank you for your comps and list of updates. The appraiser will look at it. Some will be used and some not but the data provided greatly appreciated.
And you're not alone in trying to figure out this crazy market. I don't feel comfortable what's happening in the market. Due to limited number of sales during this pandemic, I'm still need more current sales to be more confident. I have comps prior to the pandemic and comfortable with those sales to determine value. Then when I get pending one sale closed this month, I'm surprise the price is lower than I expected.
It's one comp and doesn't predict the market (maybe an outlier) but I have other pending sales and very interested in how high they sell over list price.
As appraisers we do our best what we think the value of your property is at his moment of time. A month later when those pending sales close, my value will most likely change.
I think we're in a turning point of figuring out where the market is going.

 

[lifeisgoodtoday]

If an 80yo grandmother is carrying up a 1yo grandchild up these basement steps, and at any point on the steps you begin to cringe waiting to see an accident happen, then you probably need a handrail.

Yep we put in a nice (if I say so myself) handrail before the appraisal. Although I probably still wouldn't trust my 80 yr old grandma with a baby on any steps ;-).

 

[Fernando]

Beforehand, I had my report prepared with my comps based on MLS. When I went to house, I saw an additional bathrm, not sure if done with permits.
Doesn't matter, I still need to find at least one comp with such an additional bathroom. Ugh, have to go back again.

 

[Tom D]

Beforehand, I had my report prepared with my comps based on MLS. When I went to house, I saw an additional bathrm, not sure if done with permits.
Doesn't matter, I still need to find at least one comp with such an additional bathroom. Ugh, have to go back again.

whenever i go to do a refi, i have asked the homeowner questions about improvements & any changes.
if you didn't do that, then don't give us a 'Ugh, have to go back again'.
well, we have all learned that lesson.