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  #1  
Old 11-01-2011, 02:37 PM
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Wayne Henry Wayne Henry is offline
 
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Default Driveway/Assigned parking and Car storage

I consider assigned parking and driveways car storage but it appears this has changed and the UAD requires none if there is only a driveway. I was looking for some consistency regarding this matter. Do you make adjustments for a driveway versus a carport or a garage or do you simply put "None" if the sale has a driveway.

Thank you for your input.
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Old 11-01-2011, 02:42 PM
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"None". A drive is not car storage. Storage offers protections from the elements.

However, if the market shows value to a drive, adjust it in the grid.
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Old 11-01-2011, 03:32 PM
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......A drive is not car storage. Storage offers protections from the elements.....
Tell that to people who pay $30,000 for a place to park their car.
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Old 11-01-2011, 03:34 PM
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I will, dagnabit!
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Old 11-02-2011, 10:25 AM
NorthTexValuation NorthTexValuation is offline
 
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On the first page of the report UAD requires an entry (0,1,2, etc.) in the driveway, carport and garage spaces, but on the Adjustment Grid on page 2, you can enter Car Storage the same way you always have. For instance "2 Car Garage" is entered in that space on most of my reports.
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Old 11-02-2011, 07:41 PM
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In a residential area just out of downtown, a driveway(off street parking) is worth at least $5,000. I would say that qualifies as car storage.
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Old 11-02-2011, 08:00 PM
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Originally Posted by cnjourdan View Post
In a residential area just out of downtown, a driveway(off street parking) is worth at least $5,000. I would say that qualifies as car storage.
This is getting silly.

You can park your car on the street or yard, too. Is that storage? Suggest to your wife that you will be storing her summer clothes in the drive for the winter and see her reaction.

Of course you can park on a driveway. They have a special designated spot for driveway. You can give all the value the market wants in the adjustments. Just mark the driveway in the driveway box...you can even delight the readers with how many cars you can "store" on the drive and for a real wow, there's a spot to tell them what the drive is made out of...that oughta knock their socks off!!! Heck, the garage doesn't even get that option. Fannie held an extra special spot for the driveway lovers in you so it doesn't get mixed with those common ol garages and carports.
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Old 11-02-2011, 09:14 PM
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It can certainly be argued in many directions but the question is valid. I've always considered a driveway as storage.

Dan
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Old 11-02-2011, 10:14 PM
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Originally Posted by stangtime View Post
It can certainly be argued in many directions but the question is valid. I've always considered a driveway as storage.

Dan
I agree that a driveway is a form of car storage. Depending on location, a driveway may contribute little or nothing to value or may contribute a very large amount to value. A 1 car parking pad located behind a rowhouse in some areas of Capitol Hill, Georgetown, or Dupont Circle in Washington, DC can be worth tens of thousands of dollars as there is a severe shortage of available on street parking in these areas and the configuration of lots, alleys (or lack of accessible alleys in some cases) can make it very difficult or impossible to add additional off street parking in these neighborhoods.
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Old 11-02-2011, 10:22 PM
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Quote:
Originally Posted by cnjourdan View Post
In a residential area just out of downtown, a driveway(off street parking) is worth at least $5,000. I would say that qualifies as car storage.
Same here in south Orange County CA. Many newer masterplanned developments of single family homes (example Ladera Ranch) which have driveways too short to park cars in. Only limited onstreet parking is available first come first served and many if not most families use their two car garages at least partially for storage (homes out here don't have basements).

Personally, I wouldn't buy a home without a driveway long enough to park cars in.
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