My advice is going to be somewhat different than those below. I would get another appraisal before first. I built a house about 7 years ago with a whole lot of equity. This was my 4th house and I plowed all my gains on previous houses into this one.
Over the past 7 years I have had 2 appraisals, one for the initial mortgage and one for a refinance. Both appriasals were for 80 to 85% of what I had put into the house and for what other houses in the neighborhood were selling for. The first appraiser didn't even come in the house. The second did but it was obvious he didn't know what he was doing. He couldn't even figure the square footage with a set of plans in his hands that I gave him. All they were interested in was making sure that the value of the loan was covered.
Since my loan was only for about 40% of what I could sell the house for they of course covered the loan value with a very conservative estimate.
What I'm saying is that the appraiser may be underestimating the true market value of your house.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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