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Just how in a flying nats rear end would you deal with this?

Discussion in 'General Appraisal Discussion' started by Ray Miller, Oct 10, 2010.

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  1. Ray Miller

    Ray Miller Elite Member

    0
    Feb 20, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Wisconsin
    "Appr states property is waterfront but broker adv there is only a stream that runs thru the back. Appr states in report the county data suggests that the stream is enough to qualify property as water frontage. Appr to change report to reflect "Non- Water Front" property and submit "Non - Water Front" comps or he is to provide proof of the county data"

    The property is rural acreage with a home three outbuildings and a barn, a 2-car garage and a 1800's school house that is being restored. The house has just gone renovation.

    "county data suggests that he stream is enought to qualify property as water frontage" No where int he report did I state this. I did place information that stated the different kinds of water front and usage. That different water fronts calls for different lot/acreage adjustments for verious reasons. I did make those adjustments that were called for.

    I also adjusted the comparable lots/acreage for the difference in value of the lots/acreage and water fronts as to that of the subject.


    As the location map in the report indicates in the report a stream runs on the north side and east side of the property. The flood map (which is also a pricture) that is in the report indicates that the subject property is in a flood zone, shows the buildings and the location of the stream course and another picture in the report shows the stream to be less then 50 ft from the subject buildings. The stream is large and deep enough that people canoe accross the property. The stream is any where from 8 to 14 fee wide and at some points wider. There are fish in the stream. The stream is used by people for fishing. Stream flows into the Fox River and the flood zone effects are from the stream and the Fox River.
     
    Last edited: Oct 10, 2010
  2. HF Mudd

    HF Mudd Senior Member

    26
    Jul 31, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    I would refer the reader to the photo addenda showing the type of water frontage. If this were insufficient, I would also provide an aerial view.
     
  3. zdfenton

    zdfenton Junior Member

    2
    Nov 13, 2008
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    Were you comping it to houses on lakes? Short of that I can't imagine how their request makes any sense. How the county defines/assesses water frontage really doesn't have any bearing on your valuation, and I would point that out to the client, politely.
     
  4. CANative

    CANative Elite Member

    169
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    "Stream" is not a specific term. It could applied to a river or a brook or a creek or many other names. Although not technically true, a "stream" sounds like a very small watercourse that may not flow year 'round and may not be navigable.

    Does this watercourse have a name? Why don't you change the word to "creek" or refer to it by it's name?
     
  5. Ray Miller

    Ray Miller Elite Member

    0
    Feb 20, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Wisconsin
    Guess I could refer to it by name, or I could call it a trout creek, instead of trout stream.

    As far as navigable I covered this in the verbage. Yet I have two creeks on my ranch that are named/called creeks, yet one is year round and the other is dry about 50% of the time. Another that is call a stream and it runs year round in my what I would call a pond yet the state calls it a lake.

    As far as the picture the flood map is an aerial photo and shows a nice stream, creek that flows into the river.
     
  6. Mike Boyd

    Mike Boyd Elite Member

    0
    Jan 18, 2002
    Professional Status:
    Retired Appraiser
    State:
    California
    One can pee a stream of water. Unless your body functions different than most of us, you could not pee a creek. Follow Greg's advice.
     
  7. Stone

    Stone Elite Member

    13
    Feb 1, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    If you have a named stream I think it is reasonable for someone reading the report to expect you to refer to it by name. I always name whatever creek I'm dealing with and explain a bit about what type of class it is (if it is a cold water trout stream). One would do that for a lake or river and I don't find it unreasonable at all to expect it with a stream/creek.

    BTW - calling it a "stream" is absolutely fine when discussing it. Just be sure to label it "whatever creek" at some point where the reader can see it. In discussions, I always use stream after making a point of labeling it.
     
  8. Stone

    Stone Elite Member

    13
    Feb 1, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    This may be a geographical thing, but it is completely reasonable to refer to a trout stream as a trout stream or just a stream around here. As long as it is labeled properly at some point.
     
  9. stefan olafson

    stefan olafson Senior Member

    0
    Apr 2, 2003
    Professional Status:
    Certified General Appraiser
    State:
    North Dakota
    Does the market recognize different values for stream vs creek vs river vs lake? If so show this in an addendum, show the differences in value on bare land sales to solidify your adjustments.

    Back when I was actively appraising I didn't call streams and creeks "waterfront", it may be different in Wisconsin.

    Put an aerial photo of the site in the report and refer the reader to it. Give them a visual to see where and what the stream is in relation to the entire property.
     
  10. George Ellerman

    George Ellerman Senior Member

    5
    Feb 21, 2005
    Professional Status:
    Licensed Appraiser
    State:
    Ohio
    IMO, the term "waterfront property" would traditionally and generally be defined as one of the following:

    1)Beachfront
    2)Riverfront
    3)Canal Front
    4)Freshwater Lakefront

    A "stream front" might be an interpretive stretch.

    Just a thought.




     
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