Re-fi moving along. Received the appraisal today. It was much more in-depth than the one done in '02 when I bought this place. They rated my area's RE trends as 25-75% built-up, slow growth, stable values, supply/demand in balance, market time 3-6 months. Sounded better than the other options at least. If I sold today at their appraised value it would still be 20% more than I paid, yet it's under the tax assessment value. So, in addition to a lower mortgage interest rate and monthly payment, I may also get a reduction in property tax (if I can use this appraisal to appeal).