1. Welcome to AppraisersForum.com, the premiere online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Dome Home in IL

Discussion in 'Illinois' started by Lukasz123us, Jul 27, 2011.

Thread Status:
Not open for further replies.
  1. Lukasz123us

    Lukasz123us Junior Member

    0
    Feb 12, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    We received an order for a dome home in Oswego, IL. Never completed one of these and Im sure it will be alot of work and no comps. Has anyone done one in IL? Any info would be appreciated.
    Thanks in advance. m2:
     
  2. stangtime

    stangtime Senior Member

    6
    Jul 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    Not in Illinois, but I had one here in Maryland maybe 10? years ago. Was a challenge but I found a few roughly similar domes to use as comps. Went back over a year and forget about the distance being anything close to typical. The thing that really blew my mind was the previous appraisal that the owner gave to me. The previous appraiser used three colonial style, typical homes as comps. No explanation of any weight.

    Dan
     
  3. residentialguy

    residentialguy Elite Member

    180
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
    Remember....if this is Fannie Mae, you cannot accept this appraisal order. They do not have a provision to "inform the client and get competent"...you must be competent, or you can't accept it.
     
  4. residentialguy

    residentialguy Elite Member

    180
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
    Extend time and search area to find a couple. Use them (adjusting for time and location) and then do a paired analysis with the most similar "normal" homes and find out the market reaction for the dome style. Then you can use some normal homes and adjust for the style/functionality variances. Not going to be pretty, but neither is DTB's avatar.

    It would have to pay REALLY good for me to accept that assignment. Min $1,500
     
    Last edited: Jul 27, 2011
  5. leelansford

    leelansford Elite Member

    45
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    A wise appraiser once said "I don't accept assignments the market data for which are all but non-existent."

    If your subject is a true dome and if you continue on with the assignment, I wish you luck.
     
  6. DTB

    DTB Elite Member

    66
    Jun 11, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Who says you must comp a dome with a dome? Weirdo house to weirdo house would be appropriate.
     
  7. ExplainDNA

    ExplainDNA Senior Member

    30
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Good Lord, Lukasz, there must be more and easier things you can be doing with your time.

    Avoid that thing with as much relief as you would a trip to the dentist to get a root canal while he's out of novocaine.

    Best,

    Dave...
     
  8. chicago guy

    chicago guy Junior Member

    0
    Jan 29, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    What is a "dome home"
     
  9. residentialguy

    residentialguy Elite Member

    180
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
    I would guess that it is a variation of this beautiful thing :laugh:

    [​IMG]
     
  10. William K

    William K Senior Member

    0
    Sep 21, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Also known as Geodesic homes.
    They are lots of fun to measurem2:.
    Pull out your Geometry books.:laugh:

    Had to appraise a home over 20 years ago in SW suburbs which had a second floor Geodesic addition on a standard brick ranch home. That was lots of fun :Eyecrazy: and before the USPAP.
     
Thread Status:
Not open for further replies.

Share This Page