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Custom Modern/ Contemp. Design in Old New Orleans Neighborhood

Discussion in 'Urgent - Help Needed' started by maryalice, Oct 2, 2011.

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  1. maryalice

    maryalice New Member

    0
    Sep 24, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Louisiana
    What detemines if subject does/ does not conform to neighborhood?

    Subject is very modern / contempory home for architect (designed by the architect) in a well established area of New Orleans known as "Uptown". The neighborhood is made up mostly of new orleans style cottages, doubles, colonials. I have searched 24 months back and a radius of 10 miles, 1 comparable was located. In my opinion, not really a good comparable. The exterior of the comp was made to resemble an old New Orleans cottage.

    Suggestions for comments to input in the report would be appreciated.
    How do I determine what impact the design has on marketability?
    How do I protect the bank, and myself?
    Thank you.
     
  2. Smokey Bear

    Smokey Bear Elite Member

    0
    Dec 8, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Hmm, sticks out like a sore thumb, huh? You need to find a similar 'sticks out like a sore thumb' comp and determine how much longer it took to sell, and if there was a price difference. Start by calling the agent for a sale like that, and, if your sore thumb has been sold in the past 10 years, call that agent and see what they say about it. I woulda turned it down or charged an extra $1k for the PITA factor.
     
  3. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    302
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    If it floats...might be fine. 2000 years ago NO was underwater. 2000 years from now it will be again...maybe a lot sooner.. and the mouth of the Mississippi will be at Morgan City. I guess what I am saying does it really matter in the big scheme of things. NO is a dead town walking...or wading.
     
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