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When stars align

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Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
Doing appraisal for an appeal. Small retail warehousing/distribution property.
Comp #1 across the street - very similar
Comp #2 behind comp #1 on same street - very similar
Comp #3 inferior acreage, size and utility property purchased by Petitioner for same amount as their contention of subject value with a subsequent sale by Petitioner for 3x what they paid...and it's 2 parcels down from comp #1 on same street.
All of them supportive of our original value or even more.

It's usually not that easy. Ever have an assignment where everything just falls into place like that?
 
As a privileged big urban appraiser, seen 1 row home, seen them all. That's why i never thought to do commercial. Did some when i started training under a MAI, very long ago.
 
Doing appraisal for an appeal. Small retail warehousing/distribution property.
Comp #1 across the street - very similar
Comp #2 behind comp #1 on same street - very similar
Comp #3 inferior acreage, size and utility property purchased by Petitioner for same amount as their contention of subject value with a subsequent sale by Petitioner for 3x what they paid...and it's 2 parcels down from comp #1 on same street.
All of them supportive of our original value or even more.

It's usually not that easy. Ever have an assignment where everything just falls into place like that?
Yeah... happened to me once in all the time I've been an appraiser. There were six similar sales on the same street within 1/2 mile of the subject. Made good $/hour on that one.
 
Once or twice a year - and then to make up for it a hundred weird or hard ones.
 
Doing appraisal for an appeal. Small retail warehousing/distribution property.
Comp #1 across the street - very similar
Comp #2 behind comp #1 on same street - very similar
Comp #3 inferior acreage, size and utility property purchased by Petitioner for same amount as their contention of subject value with a subsequent sale by Petitioner for 3x what they paid...and it's 2 parcels down from comp #1 on same street.
All of them supportive of our original value or even more.

It's usually not that easy. Ever have an assignment where everything just falls into place like that?
Sure did. The judge through it out too :( Tax tribunal drives me nuts sometimes.
 
Rather unusual having so many comps in such close proximity to subject.
Are there a lot of commercials for sale in area?
 
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