Anyone ever have my problem? We wanted to refiance our log home to get a better interest rate. Back in 2010 after completion, it apprassed for 300,000. Now, three years latter it apprassed for 190,000. We appealed the apprassal but was rejected.
Appraisal values in Colorado where I live have done the same thing. Home values are down 30% - 40%. The appraisal means nothing if you love your log home.
The appraisal means alot if you want to refiance!!!!!
Appraisals can be tricky depending on the market you're in and with Log Homes being a 'special' home, if you will, unless you have an appraiser/bank who's familiar with log homes it can be even trickier.
Ours was completed in 2010 as well, and we took a small 'hit' in 2011; but the market in our area is slowly improving. Did they use 'log homes' in the comparative section of your appraisal? What's the tax assessed value of your home (I know sometimes this doesn't matter, but if it's closer to the figure you're looking to refi, then maybe you can use it as a reference in your dispute)? Looking at recent home sales in your area, does it appear their values have dropped as well?
Just some things to consider......Sorry I wish I could be more help to you.