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  #1  
Old 12-22-2004, 12:42 PM
Will43's Avatar
Will43 Will43 is offline
 
Join Date: Aug 2003
Location: Central Ohio
State: Ohio
Professional Status: Licensed Appraiser
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I am currently working on a REO that is located between 2 businesses. The businesses on the subjectís side of the road were converted from single family. (Ma and Pa businesses)

This zoning permits Single Family, Multifamily, and office use.

Most of the houses are currently being used as single family on subjectís side of the road.

This location doesnít appear to increase or decrease the value based on the limited sales I found.

This is the first time I ran into one like this.

The subject is currently being used as a single family.

Any thoughts or comments would be appreciated.
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Old 12-22-2004, 01:00 PM
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Otis Key Otis Key is offline
 
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Location: Mile High
State: New Mexico
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It appears, from what you said, that it might still be the highest and best use as a single family residence but is in transition to retail at some near future date.
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Old 12-22-2004, 02:32 PM
Restrain Restrain is offline
 
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Location: Port Charlotte, FL
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It will be residential until another appraiser moving into the area wants it for his office. :P
  #4  
Old 12-22-2004, 04:25 PM
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Otis Key Otis Key is offline
 
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State: New Mexico
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Quote:
Originally posted by RStrahan@Dec 22 2004, 03:32 PM
It will be residential until another appraiser moving into the area wants it for his office. :P
Are you planning a move Roger? :lol: :lol: :P :P :rofl: :rofl:
  #5  
Old 12-22-2004, 07:34 PM
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George Hatch George Hatch is offline
 
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Location: Carlsbad, California
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Under the conditions you describe, there is no discernable trend among your sales data of coverting these properties into non-residential uses. If so, the existing use remains the HBU without qualification. If there is a slight trend among your data, say less than 20%, for converting these properties, then you may have an interim use with a limited remaining economic life. If most of the comparable properties are being purchased for either conversion or redevelopment then the existing use probably isn't the HBU.
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