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Driveway/Assigned parking and Car storage

Discussion in 'Urgent - Help Needed' started by Wayne Henry, Nov 1, 2011.

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  1. Wayne Henry

    Wayne Henry Junior Member

    1
    Nov 17, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    I consider assigned parking and driveways car storage but it appears this has changed and the UAD requires none if there is only a driveway. I was looking for some consistency regarding this matter. Do you make adjustments for a driveway versus a carport or a garage or do you simply put "None" if the sale has a driveway.

    Thank you for your input.
     
  2. residentialguy

    residentialguy Elite Member

    66
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
    "None". A drive is not car storage. Storage offers protections from the elements.

    However, if the market shows value to a drive, adjust it in the grid.
     
  3. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    96
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    Tell that to people who pay $30,000 for a place to park their car.
     
  4. residentialguy

    residentialguy Elite Member

    66
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
  5. NorthTexValuation

    NorthTexValuation Senior Member

    0
    Sep 17, 2011
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    On the first page of the report UAD requires an entry (0,1,2, etc.) in the driveway, carport and garage spaces, but on the Adjustment Grid on page 2, you can enter Car Storage the same way you always have. For instance "2 Car Garage" is entered in that space on most of my reports.
     
  6. cnjourdan

    cnjourdan Sophomore Member

    0
    Mar 4, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Louisiana
    In a residential area just out of downtown, a driveway(off street parking) is worth at least $5,000. I would say that qualifies as car storage.
     
  7. residentialguy

    residentialguy Elite Member

    66
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota
    This is getting silly.

    You can park your car on the street or yard, too. Is that storage? Suggest to your wife that you will be storing her summer clothes in the drive for the winter and see her reaction.

    Of course you can park on a driveway. They have a special designated spot for driveway. You can give all the value the market wants in the adjustments. Just mark the driveway in the driveway box...you can even delight the readers with how many cars you can "store" on the drive and for a real wow, there's a spot to tell them what the drive is made out of...that oughta knock their socks off!!! Heck, the garage doesn't even get that option. Fannie held an extra special spot for the driveway lovers in you so it doesn't get mixed with those common ol garages and carports.
     
  8. stangtime

    stangtime Senior Member

    3
    Jul 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    It can certainly be argued in many directions but the question is valid. I've always considered a driveway as storage.

    Dan
     
  9. timd354

    timd354 Elite Member

    56
    Jan 11, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    I agree that a driveway is a form of car storage. Depending on location, a driveway may contribute little or nothing to value or may contribute a very large amount to value. A 1 car parking pad located behind a rowhouse in some areas of Capitol Hill, Georgetown, or Dupont Circle in Washington, DC can be worth tens of thousands of dollars as there is a severe shortage of available on street parking in these areas and the configuration of lots, alleys (or lack of accessible alleys in some cases) can make it very difficult or impossible to add additional off street parking in these neighborhoods.
     
  10. OCApp

    OCApp Member

    1
    Jan 19, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Same here in south Orange County CA. Many newer masterplanned developments of single family homes (example Ladera Ranch) which have driveways too short to park cars in. Only limited onstreet parking is available first come first served and many if not most families use their two car garages at least partially for storage (homes out here don't have basements).

    Personally, I wouldn't buy a home without a driveway long enough to park cars in.
     
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