We had purchased a house for 675k in Nov 2022 in Washington state. At the time, it was appraised at 685k with comparable comps avg 400/sqft vs ours at 300/sqft.

It doesn’t look like the interests rate are gonna go significantly down anytime soon. Do you think it maybe worth getting the house reappraised to possibly eliminate PMI?

If yes, would you recommend BPO (cheaper) or Appraisal? We have only paid 7% so far. PMI is $280.

Posting as :
works at
You are currently posting as works at

F

This boils down to whether or not an appraisal would show you have the 20% equity or whatever percentage is required to move PMI on your mortgage. Are there comps being sold that signal your appraisal would be in that range?

Yeah everything around us is selling for much higher. Even at that time our price/sqft was significantly lower than homes around us per the appraisal report but I guess they don’t value it too much above the selling price.

In Nov 2022 purchase price was 675k, appraised value was 685k and taxes are 800k :|

Would you be able to recommend if it’s worth spending more money on appraisal over BPO?

Related Posts

Anyone here using ICICI Bank salary account? Are there any charges for credit card like yearly fees or any sort of charge? They have given me rubyx credit card.

like

Can someone please explain the process of selling a home when you have an Islamic loan? Since it’s profit sharing i don’t fully own the home right? So if i sell it i can’t take full profits since i don’t own it outright. I’m considering Islamic financing but have so many questions about it. Can you take an equity line? Can you write off mortgage interest?

like

Is it worth it to buy a multi-family home to rent out?

like

I have two offers on the table: One in Los Angeles, CA for $145K and another in $120 in South Fl. I live in Atlanta, I’ll have to move, which would be a good option?

like

Hey gang - I want to get more serious about my stock investments this year but don’t know where to start. Already maxing out my 401k and Roth. No debt.

What are your favorite/best resources for teaching myself how to build a strong long-term investment portfolio?

like

By investing 50k/annum in NPS I can save 15k tax per year.. Suggest me I should opt for NPS or not?

NFA, but will be buying up sub 20K BTC… DYOR 🥲

Post Photo
like

If I have a six year old and 150k in a 529, can I say I’m done?

like

Hi Fishes,

Can anyone suggest some good Mutual funds to start SIP for 3 years.

like

Do you invest in commodities?

likesmart

Who does your taxes? Need a recommend. Thanks.

like

There are advisors who present themselves as a financial planner first and investment manager second. Which one are you?

like

If you only stay a year after returning what happens to the 10K relocation and 20K early signing? Are you required to pay back half or is it all yours?

like

Is an IPO in anyone’s FIRE strategy? Maybe this is specific to the Bay Area, but it doesn’t seem that unrealistic to negotiate enough equity to make $1.5 mill off an IPO. Or maybe I’m dreaming 😂

like

I need some expert advice. I have 40k in 401k and 40k cash in savings account. I moved all 401k to a very low return safe portfolio in July and basically I haven't done anything with the cash as well.

Starting to feel like I am missing out on returns and now is the time to put everything back into the market. Does anyone know reliable financial advisors that will do it for me and also account for the independence related restrictions.

Other suggestions/tools appreciated as well.

like

Does Deloitte still offer second year tuition reimbursement for a returning intern who’s attending their MBA program on a full tuition scholarship? Thanks!

like

Off the topic.
Koi help kar sakte to get rent house near Manikonda/7 Tombs.
Budget: 13k

like

Porsche IPO worth buying now amid market and economy turbulence?

like

What are your thoughts on Tesla stock ? Do you think it will reverse next year ? The company is in very good shape , it is getting smashed because of the twitter drama alongside high interest rate but i think it is very cheap stock today when i think about future prospects

likeuplifting

Whats the second source of income for a IT employee ?

like

More Posts

How is the company culture?

like

McKinsey & Company Hi guys, what level is Knowledge Analyst in McKinsey & Company Digital? I come from Accenture Strategy and the hierarchy goes - Analyst, Consultant, Manager, Senior Manager and so on. Can someone help where does Knowledge Analyst sit in McKinsey hierarchy?
TIA

Hi all,

Do firms match offers from other Big 4s for campus hires? I’ve received a campus offer from both
KPMG and EY. I’m more interested in the EY offer, but they are paying 3k less than KPMG.

Would it be a bad move to let them know about the other offer and try negotiating? I feel it wont make a difference in the long run, but at the same time I don’t want to leave any money on the table if possible.

Thanks!

KPMG EY PwC Deloitte

likefunny

Hi everyone, I got hired on as entry level sales operations role back in January. It quickly turned into sales, and eventually all the sales for the small company once the head of sales left. I am happy to take on the additional role for my company, and they are going to let me. But they feel that without multiple people in a sales department the title head of sales might not be the best title. I have input in what my updated position title and salary would be. What should I ask for?

like

Does someone help me to get good instructors for SCM certification

What projects could I do data related to build my portfolio? Not sure what kind of projects to work on related to advertising and marketing.

like

What are my New Yorkers doing for Halloween? 👀

likeuplifting

My coworker tried to tell me that react is an API….

funny

Anyone know of any freelance opportunities for a junior/associate strategist with a project or two behind their belt (or how new to freelancing actively works)? Would love to chat thanks

IB ops analyst based out of Bangalore with 2 years of experience at DB. Recently cleared my CFA L1 with 90 percentile. Looking for someone to refer me for the BA role or equivalent

What brands are you really into at the moment? Would be great to think about and be inspired by those doing a great job!

Any BCG Platinion Cyber folks here?
What kinna work do you guys do? Planning to make the switch after 5 years with Uncle D. Wanna hear from you guys about culture, projects and areas of expertise.

like

Any Hilton recs in Charleston?

These numbers are really irrelevant unless you know the agency. It would take a lot less dough to get me into w+k than say, a Translation or similar.

like

How closely do pwc consulting work with s&? And how common is cross staffing onto s& projects?

like

FRM average salary through uhaul

like
like

Looking for an Amsterdam based Sr. Copywriter with Influencer campaign marketing experience. Script writing and messaging needs. Video game background is good to have. Start date 04/29 for 4 weeks. DM

like

Traveling to DC for 4 days. Looking for Marriott with parking and maybe concierge lounge functioning. Anyone use a Marriott recently they can recommend?
Open to other suggestions too. Thanks

like

Additional Posts in The Real Estate Bowl

Please help! Do these fees look within normal range or are they too high? I am especially concerned about the title company fees!

Post Photo
like

Commercial real estate question. When a residential property will likely zone commercial in the coming years, do we, the owner, wait for a buyer/developer to contact us?

like

If I’m a Real Estate Agent buying my own property, can I negotiate the Buyers Agent commission to be 0% instead of being paid the buyers commission? Essentially converting what would be Income into Cost Savings for tax purposes?

like

If you living currently in a home and looking to buy another home but plan to put only 10% on the new home, can I pay the remaining 10% after selling my existing home in 1-2 months .. and get the PMI

like

Got an agent and she was useless for finding good tenants. Got frustrated and finally started finding leads myself and closing on one soon. I have signed a contract with the agent for paying one months rent as fee. How can i fight this or as he has been literally of zero value add? I will ofcourse ask nicely but wanted to see if i have any other options!

like

Hi all - any advice for a first time real estate investor looking to make their first purchase at the end of 2021.

I plan on saving $50K, for a $350-400K property in the Long Island, NY area for my first property. Does this sound reasonable? And does anyone have any experience & advice investing in the LI area?

Id like to rent it out for some positive cash flow that I can then start using to save for my 2nd property (sounds easy when I type it).

Thanks all for your input - stay safe!

like

What is the term for giving your home buyers a credit for immediate renovations they will have to do before or upon moving in? And how does it affect the seller?

like

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

Anyone punched out of state 4-10 unit apt building? How did you find the listing?

like

I have over 12 years in B2B sales/sales management experience along with a graduate degree. I am wanting to shift gears and I am at a point where I can invest time in myself to learn through practical experience. The new industry I am wanting to pursue is real estate investment. I have read all the books but want some hands on experience on the property management side. How could I best leverage my skills for a role in this, and what should my expectations be for negotiation in compensation?

How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

like

Is it okay to buy a home worth 660K for a couple earning 325K TC together? The HOA and taxes for this home bring the monthly payment up to ~4.8K which is ~32% of our monthly take home after tax…we’re first time home buyers, any advise is appreciated!

like

28 year old with ~125k in cash/brokerage. Have been wanting to begin purchasing rentals but anxious to use a good bit of my liquid savings. Thoughts on biting the bullet vs. investing in stocks. In Houston if that is a factor

like

If anyone has problems with leaks or anything facade related I work in facade restoration, preservation, rehabilitation, retrofitting in NYC. I’d be happy to discuss potential solutions.

like

Looking to move out of California, and considering buying a townhome in Atlanta for ~$650k. Any thoughts on the Atlanta real estate market?

like

Interested in development. Any recommendations on how to get started? Are there any organizations that will fund any part of a development project?

like

Any Property Management recs in Seattle area? :(

like

Our appraisal came through exactly as the offer price we put. Apparently by lenders 3rd party. Isnt that a bit fishy? If it came in lower our contract has the option to negotiate a bit with seller. Is lender just trying to push this along faster? I'm pretty sure in this crazy market the home is not valued at what we offered. Why would seller put a much lower asking price then? Make no sense. Please advise!

likehelpful

I'm early in my career, managed to save $30K to invest, and want to get my hands dirty with a rental property without too much risk (e.g. no HML/flipping). It sounds like that's a tall order in the NY/CT area given the prices, not to mention whether I'd be able to get a mortgage on anything below $100K, but I figure I'll give it a shot anyway. Any advice on what you might do in my position? Am I being crazy with this idea?

like

My assumption is that one makes money in RE with leverage. So, would you never let your equity in any given property get above certain% (I.e re-leverage and invest elsewhere) or would one eventually want to own a property outright?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal