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  #1  
Old 10-30-2011, 02:16 PM
Beth Coble Beth Coble is offline
 
Join Date: Jan 2005
Location: Lakeland, Florida
State: Florida
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Default Bedroom's through Bedroom

I'm working on a USDA appraisal that is a rural property (Green Swamp Central Florida) on 5 acres, ranch style built in 1964. The home has had 2 additions constructed in the 1980's.

The home has a large front bedroom (18'x20'); you have to go through the front bedroom to get to the master bedroom. The master bedroom is also a large room (26'x20') and has an exterior entrance. Then you have to go through the master bedroom to get to the 3rd bedroom. The 3rd bedroom is a result of an addition and could potentially be used as an "in-law" suite with a bedroom, bathroom and sitting room and it also has a separate exterior entrance. (The old MLS states the home has 4 bedrooms however I have yet to discover the elusive 4th bedroom, the old MLS also made no mention the functional utility issue.)

1. My pool of comparable sales is small and finding a recent comparable sale with a similar layout has proven to be impossible.
2. Due to the large size of the rooms it would be physically possible to construct partition walls / hallways to give each room its own access without going through the other rooms.

I know a layout like this would not fly in town. However it is more expectable for rural farm properties in the market area.

In your great opinions how should I handle this? Functional Utility adjustment with CTC?
Thanks for your input!
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Old 10-30-2011, 02:21 PM
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residentialguy residentialguy is offline
 
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Bedroom must have it's own private entrance and not be a portal for another bedroom. I don't want to be in the middle of a wild thing with my wife and all of the sudden the other person walks through to go pee. (some may like that, though)
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Old 10-30-2011, 02:44 PM
Road Rage Road Rage is offline
 
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I'd try to find a dated or distant sale with somewhat similar FO and make adjustments. That's tough though because I know that realtors aren't going to voluntarily describe a property as having an odd layout on the MLS. If none can be found at all, your only recourse may be to make the adjustment to construct a hallway on the comparable sales (although I've never liked making cost adjustments on the sales comparison approach).

Just out of curiosity, did you find a piece of cheese in the third and final bedroom?
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Old 10-30-2011, 03:07 PM
Beth Coble Beth Coble is offline
 
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Did not find any cheese but did consider calling 911 for help navigating out of the maze.
  #5  
Old 10-30-2011, 04:28 PM
Jo Ann Meyer Stratton's Avatar
Jo Ann Meyer Stratton Jo Ann Meyer Stratton is offline
 
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You should have a very detailed sketch of the floor plan in your report in a situation like this. That way a reader of your report can visualize the home much easier when reading your description of the problem. That is the type of home I call a rambler under style/design. As they needed a room, so they built one without any thought to functional utility or traffic flow.
  #6  
Old 10-30-2011, 04:29 PM
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Quote:
Originally Posted by Road Rage View Post
I'd try to find a dated or distant sale with somewhat similar FO and make adjustments. That's tough though because I know that realtors aren't going to voluntarily describe a property as having an odd layout on the MLS. If none can be found at all, your only recourse may be to make the adjustment to construct a hallway on the comparable sales (although I've never liked making cost adjustments on the sales comparison approach).

Just out of curiosity, did you find a piece of cheese in the third and final bedroom?

Call realtors and ask their opinion on the neg affects it would have. It's a 2 bed plus den instead of a 3 bedroom...or a 1 bedroom with an office and den. Not that big of a deal...I doubt it took away value from the origial. Use your best judgement.
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  #7  
Old 10-30-2011, 06:32 PM
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HF Mudd HF Mudd is offline
 
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Quote:
Originally Posted by Jo Ann Meyer Stratton View Post
You should have a very detailed sketch of the floor plan in your report in a situation like this. That way a reader of your report can visualize the home much easier when reading your description of the problem.
Great answer. A sketch with interior walls should be utilized.

In the markets I cover, this is sometimes referred to as a "railroad flat" layout. I can usually find comparables with similar layouts as the subject. In some cases that means expanding my search criteria geographically and/or historically.
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Old 10-30-2011, 07:00 PM
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hglenbetts hglenbetts is offline
 
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Try two bedrooms and an attached nursery.

Or add a coffee pot and it's an in suite kitchenette.
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  #9  
Old 10-30-2011, 07:33 PM
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hg,
I sure wish The Sopranos was still going. That and "24" were my 2 favs!
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  #10  
Old 10-30-2011, 08:35 PM
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PropertyEconomics PropertyEconomics is offline
 
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Without sales it is difficult to measure such a feature. I would suggest good description and then in your reconciliation concluding on the lower mid to lower portion of the range for this "functional" feature.

You have recognized it, have recognized most probable market reluctance to it, as well has having recognized the potential effect on value.

Good description for what you have done and why you did it should help your case.
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