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Corner Lot?

Discussion in 'Ask an Appraiser' started by Travis McGee, Mar 24, 2004.

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  1. Travis McGee

    Travis McGee Senior Member

    0
    Sep 18, 2004
    forgot to check the corner box and got a call back...anyway whats the deal with a corner lot?? Ive never seen a difference in value. In fact I would think having frontage on two different streets may increase overall traffic and exposure?? why is this significant??
     
  2. TC

    TC Elite Member
    Gold Supporting Member

    41
    Jan 31, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    For whatever reason the form requires you check if its a corner lot. I see no difference in value for a corner lot, if anything, it may be a negative. There is generally a stop sign on a corner lot, that's where the drunks throw their empties out the window, just my experience.

    :beer: :beer: :beer:
     
  3. Ryan Nyberg

    Ryan Nyberg Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Gvmt Agency, FNMA, HUD, VA etc.
    State:
    Washington
    I live on a corner lot and resemble that remark. Every sunday go out and clean up the bottles.


    I belive that at one time I think it was FHA(?) required a corner lot adjustment. Really old item. I kinda remember it from what my mentor told me about it at one time. Seems they wanted to know if the subject was a corner lot and the adjustment for the corner lot. Think that is how it went at one time. Just a really old thing. Least that is what I was told.
     
  4. TC

    TC Elite Member
    Gold Supporting Member

    41
    Jan 31, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    It wasn't me, never been to Tacoma on a Saturday night.


    TC
     
  5. moe cohen

    moe cohen Member

    0
    Feb 24, 2004
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    Corner lots have lower building coverage ratio. Also, double size of sidewalks to pay for or clean snow and ice.
    Moe
     
  6. Steve Wyrick

    Steve Wyrick Member

    0
    Aug 15, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    I think this might be a regional thing. In my part of the world corner lots tend to have larger sizes and builders always think they can get a premium. One design item is that the attached garage can sit opposite the front which some find appealing. Also with certain designs the view windows can be better, ie kitchen, living room and family room looking onto a street or park. It just depends on a wide variety of factors if a corner lot adds or detracts from value.
     
  7. Restrain

    Restrain Elite Member

    56
    Jan 22, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    It's a physical characteristic that should be reported. In Texas, the site is larger because of the larger required side setback. Does that affect value? Yes, no, maybe. It all depends.

    Roger
     
  8. Ryan Nyberg

    Ryan Nyberg Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Gvmt Agency, FNMA, HUD, VA etc.
    State:
    Washington
    Maybe not on a saturday night. But I just came in from taking the dogs outside. Had to pick up the Mad Dog 20/20 that was left there. Was this yours TC?

    :D
     
  9. TC

    TC Elite Member
    Gold Supporting Member

    41
    Jan 31, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    Nah, it wasn't me, I'm strictly a forty & blunt man. word B)
     
  10. Charlotte Dixon

    Charlotte Dixon Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Corner Lot?

    I was reviewed by someone across the country who said "SHE FORGOT TO ADJUST FOR A CORNER LOT" :rofl: :rainfro:
     
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