I heard from the bank today about both appraisals. The new house appraisal was fine. No problems, no surprises. However, this was NOT the case with the rental appraisal. Why? Well... our house appraised for slightly less than it did 2 years ago - seriously we refi-ed our house almost two years ago. Since the refi we reno-ed the kitchen with granite countertops and manufactured hardwood floors - which I mentioned to the appraiser when he came. So please go ahead and scratch your heads with me and explain how we put in all the money and are seeing ABSOLUTELY NOTHING in terms of a return on investment. Sign of the times I guess. Yet another reason why we renting this house out because we would have to sell it for nothing.