It's what everyone's waiting for now. Nothing proceeds until the post rehab appraisal comes in and can be verified by both the City and the Bank. To get the City's Rehab Loan, the PRA can't be above a certain value; to get the Bank's Rehab Loan, the PRA can't be less than a certain value. Goldielocks-appraisal.
There's a fine line here and it's all coming down to this. We should get the news today.
Apparently one of the problems is that the Appraiser doesn't have much to go on by means of comparable properties that have been rehabbed in our area. There's a *Historical* area nearby (by 'nearby' I mean we are apparently cut out of the historic district by two homes on our block- nice gerrymandering there, guys... the building across the street-- is In. The Buildings to the North -- are In. We -- are out. Bummer.) So apparently we can't be compared to the homes on the rest of our block or a block away, even though they look about the same, are about the same size, appear to have been built at the same time... Harumpfh. We're just not Historical enough.
Come on appraiser.... baby needs a new pair of rehab loans.
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