Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > State Forums > Individual States > Illinois
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 07-27-2011, 12:14 PM
Lukasz123us Lukasz123us is offline
 
Join Date: Feb 2008
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 287
Default Dome Home in IL

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.
Sponsored Links

  #2  
Old 07-27-2011, 12:31 PM
stangtime's Avatar
stangtime stangtime is offline
 
Join Date: Jul 2009
Location: Lusby
State: Maryland
Professional Status: Certified Residential Appraiser
Posts: 2,057
Default

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
__________________
Always remember, everything is temporary. The bad, and the good.
  #3  
Old 07-27-2011, 12:57 PM
residentialguy's Avatar
residentialguy residentialguy is offline
 
Join Date: Mar 2009
State: Minnesota
Professional Status: Certified Residential Appraiser
Posts: 14,189
Default

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.
__________________
We must reject the idea that we are not trustworthy. We work by a code of ethics, AMCs do not.
  #4  
Old 07-27-2011, 01:06 PM
residentialguy's Avatar
residentialguy residentialguy is offline
 
Join Date: Mar 2009
State: Minnesota
Professional Status: Certified Residential Appraiser
Posts: 14,189
Default

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
__________________
We must reject the idea that we are not trustworthy. We work by a code of ethics, AMCs do not.

Last edited by residentialguy : 07-27-2011 at 05:05 PM.
  #5  
Old 07-27-2011, 04:16 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,540
Default

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.
__________________
Lee Lansford, IFA
"My opinions & my opinions only!"
  #6  
Old 07-27-2011, 04:30 PM
DTB's Avatar
DTB DTB is offline
 
Join Date: Jun 2004
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 7,742
Default

Who says you must comp a dome with a dome? Weirdo house to weirdo house would be appropriate.
__________________
Appraising, picking up nickels in front of a steamroller.
  #7  
Old 07-27-2011, 04:46 PM
ExplainDNA's Avatar
ExplainDNA ExplainDNA is offline
 
Join Date: Oct 2008
Location: Crystal Lake, IL.
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 3,682
Default

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...
__________________
AMCs via choice, not committee.
  #8  
Old 07-27-2011, 10:41 PM
chicago guy chicago guy is offline
 
Join Date: Jan 2008
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 229
Default

What is a "dome home"
  #9  
Old 07-27-2011, 10:44 PM
residentialguy's Avatar
residentialguy residentialguy is offline
 
Join Date: Mar 2009
State: Minnesota
Professional Status: Certified Residential Appraiser
Posts: 14,189
Default

Quote:
Originally Posted by chicago guy View Post
What is a "dome home"
I would guess that it is a variation of this beautiful thing

__________________
We must reject the idea that we are not trustworthy. We work by a code of ethics, AMCs do not.
  #10  
Old 07-27-2011, 11:05 PM
William K's Avatar
William K William K is offline
 
Join Date: Sep 2007
Location: Cook county
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 3,118
Default

Also known as Geodesic homes.
They are lots of fun to measure.
Pull out your Geometry books.

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 and before the USPAP.
__________________
Appraisers need to learn to say the word, "NO". The word "NO", saves money and aggravation!
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 08:44 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93