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Oh, why did I accept this one?

Discussion in 'General Appraisal Discussion' started by stangtime, Jun 23, 2011.

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  1. stangtime

    stangtime Senior Member

    5
    Jul 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    26 acres. Waterfront. And has a 4,000 s.f. Amish barn (guest house) with a second level finished with hardwood floors, full bathroom, and no kitchen anywhere. Lower level is a barn with gravel. This thing was build solidly but oh, geez is this going to be a pain. I've worked through jobs like this before, but I really didn't need this now. When I accepted the job it was with the knowledge that there was an old barn on the property. Not this.

    Fee is not bad, but not great; four digits. But still.

    [​IMG]
     
  2. JamesRockford

    JamesRockford Senior Member

    0
    Oct 22, 2010
    Professional Status:
    Certified General Appraiser
    State:
    California
    I believe a guy on this forum just did a 2055 Exterior on this one. :(
     
  3. CANative

    CANative Elite Member

    122
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    This seems like a kind of ordinary type assignment out here in the Mendocino boonies.
     
  4. Metamorphic

    Metamorphic Senior Member
    Gold Supporting Member

    41
    Mar 15, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Ditto the Sierras.

    4 Figures! Lucky dog.
     
  5. stangtime

    stangtime Senior Member

    5
    Jul 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    Not overly common down this way. For this type of thing the report will be narrative. Search parameters will be stretched out probably county wide, or the surrounding counties, and probably back a couple of years.

    Dan
     
  6. CANative

    CANative Elite Member

    122
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    It's a barn with an guest unit. The cost is probably 200 grand and the return is probably less than a hundred grand depending on the type of market.
     
  7. KYLECODY

    KYLECODY Senior Member

    2
    Apr 26, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    Better you than me. Makes me feel good about living in cookie cutter land. I would of dropped that one like its hot.
     
  8. Metamorphic

    Metamorphic Senior Member
    Gold Supporting Member

    41
    Mar 15, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Go find one with a barn and adjust up for a workshop/garage/studio, then go find one with a detached workshop/garage/studio and adjust up for a barn. Also do searches for coach houses, detached garages, mobiles, homes with 2 houses on the lot, horse ranches, etc. When was the last time this thing sold. You might be able to comp it with itself.
     
  9. stefan olafson

    stefan olafson Senior Member

    0
    Apr 2, 2003
    Professional Status:
    Certified General Appraiser
    State:
    North Dakota
    Challenging jobs tend to exercise the mind much more than the cookie cutters. I'd rather do three or four challenging jobs versus ten cookie cutters. Probably make more money also!
     
  10. stangtime

    stangtime Senior Member

    5
    Jul 19, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    Thanks all. I appreciate the suggestions. I'll have to hit if from a couple of directions. Meta - It hasn't sold before; it was built approximately eight years ago. It was listed on the market for 1.4 (DOM:345) but never sold or had any interested parties, as per a discussion with the listing agent. So that places a cap.
    Greg - From some quick rough numbers I agree.
    Kyle - From time to time these mental exercises are good. Just not when I have other pressing work from my bread and butter clients.

    Dan
     
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