Well, I heared my appraisal number today, and I was displeased. It came in $25K under what I'd pessimistically expected, and $50K under what I'd hoped. My loan agent said that appraisers are being extremely conservative right now, and that the actual market value was probably much higher. Still, seeing that number was a bit of a surprise.
In practice, it doesn't really make much difference to me-- I have more than enough equity to refinance at a rather favorable rate. But still, wow. That number was like $100K below what I could have sold for last summer. What a reality check.