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Old 10-02-2011, 06:26 PM
maryalice maryalice is offline
 
Join Date: Sep 2008
Location: SE Louisiana
State: Louisiana
Professional Status: Certified Residential Appraiser
Posts: 30
Default Custom Modern/ Contemp. Design in Old New Orleans Neighborhood

What detemines if subject does/ does not conform to neighborhood?

Subject is very modern / contempory home for architect (designed by the architect) in a well established area of New Orleans known as "Uptown". The neighborhood is made up mostly of new orleans style cottages, doubles, colonials. I have searched 24 months back and a radius of 10 miles, 1 comparable was located. In my opinion, not really a good comparable. The exterior of the comp was made to resemble an old New Orleans cottage.

Suggestions for comments to input in the report would be appreciated.
How do I determine what impact the design has on marketability?
How do I protect the bank, and myself?
Thank you.
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Old 10-02-2011, 07:19 PM
Smokey Bear's Avatar
Smokey Bear Smokey Bear is offline
 
Join Date: Dec 2004
Location: The "OC" in Republican Land (Oh no!)
State: California
Professional Status: Certified Residential Appraiser
Posts: 12,470
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Hmm, sticks out like a sore thumb, huh? You need to find a similar 'sticks out like a sore thumb' comp and determine how much longer it took to sell, and if there was a price difference. Start by calling the agent for a sale like that, and, if your sore thumb has been sold in the past 10 years, call that agent and see what they say about it. I woulda turned it down or charged an extra $1k for the PITA factor.
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  #3  
Old 10-02-2011, 08:51 PM
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Terrel L. Shields Terrel L. Shields is offline
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 39,196
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If it floats...might be fine. 2000 years ago NO was underwater. 2000 years from now it will be again...maybe a lot sooner.. and the mouth of the Mississippi will be at Morgan City. I guess what I am saying does it really matter in the big scheme of things. NO is a dead town walking...or wading.
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