Economic obsolescence

[SANDY]

Specific shout out to the know it alls to answer my yes/no question. That means you Cannative, Stone, etcc etccc-you know who you are.

Bring it!

Special invitation to USPAP instructors too!

Almost forgot special invite to all you who proudly identify yourselves as realtor/appraisers or "famous" appraisers.

 

[23Degrees]

NO WIGGLING!! - you do remember we are talking about the cost approach towards market value here right? Sandy - for your example can you describe how one was able to determine the opinion of site value. Were there any relevant land sales present to able to use to develop that number? If not are we going with asstraction? One of the other methods?

 

[Meandering]

Well,

Crickets chirping must be the answers.


Still waiting.


.

 

[Tim Hicks (Texas)]

Specific shout out to the know it alls to answer my yes/no question. That means you Cannative, Stone, etcc etccc-you know who you are.

Bring it!

Special invitation to USPAP instructors too!

Almost forgot special invite to all you who proudly identify yourselves as realtor/appraisers or "famous" appraisers.

"famous" appraisers?

Question- Do you include in your CA a specific number for Economic obsolescence or not?

I would never expect it it be a "specfic" number as each and every property and their respective market has its own unique attributes. If you do a proper cost approach with proper lot sales and proper physical depreciation, then the EO would be abstracted from the difference in cost approach and the adjusted opinion of value of sales. Different properties would require different numbers. Homes with pools, smaller homes, larger homes, etc all might have varying effects of EO. Up north, some say pools give no extra value. The smallest home in the subdivision may need less EO, the largest might require more. What if a certain style of home is now obsolete. There is never any one yes or no answer to just about anything when it comes to arriving at an opinion of value. That is why don't arrive at the same opinion of value on every property as every appraiser.

 

[KD247]

... Question- Do you include in your CA a specific number for Economic obsolescence or not?...

In the Cost Approach section of the form, no. ...

Answer me!

Sorry, I keep forgetting that you don't read English. No, non, nyet, nee, ne, iie, nope, naw

 

[SANDY]

NO WIGGLING!! - you do remember we are talking about the cost approach towards market value here right? Sandy - for your example can you describe how one was able to determine the opinion of site value. Were there any relevant land sales present to able to use to develop that number? If not are we going with asstraction? One of the other methods?

I had plenty of recent land sales and plenty of bubble land sales-no brainer to calculate economic obsolescence attributable to site value. This is also clue to how you calculate EO attributable to site values instead of backing into it by inference. If I had used the inference method I would have substantially over-estimated the actual market based EO.

But now you make an opening for the loud mouths to be diverted from answering my yes/no questions. They have short attention spans and are easily diverted. It's hard enough to keep them on point and prevent them from spouting off about location or environmental obsolescence or some plant closing scenario or posting some bullshat theoretical response.

I want a simple yes or no so let's try not to complicate things for them!

Where are you Cannative, Terrell and Stone? Don't be afraid of a little ole trainee.

 

[Michigan CG]

Ok time for feeble attempt to herd the cats.


Feel free to apply your vast superior experience and prepped state certified exam completion designation and appraisal institute definitions search in your responses!

Specific shout out to the know it alls to answer my yes/no question. That means you Cannative, Stone, etcc etccc-you know who you are.

Bring it!

Special invitation to USPAP instructors too!

Almost forgot special invite to all you who proudly identify yourselves as realtor/appraisers or "famous" appraisers.

......But now you make an opening for the loud mouths to be diverted from answering my yes/no questions. They have short attention spans and are easily diverted. It's hard enough to keep them on point and prevent them from spouting off about location or environmental obsolescence or some plant closing scenario or posting some bullshat theoretical response.

I want a simple yes or no so let's try not to complicate things for them!

Where are you Cannative, Terrell and Stone? Don't be afraid of a little ole trainee.

Instead of talking down to people and trying to be less combative you might get some useful thoughts. Your posts do not inspire many to contribute.

 

[Meandering]

Instead of talking down to people and trying to be less combative you might get some useful thoughts. Your posts do not inspire many to contribute.

Sandy is the appraiser poster child for birth control.



.

 

[Pilgrum]

Did you ask the question to gain a knowledgeable answer or did you just ask it to elicit an argument? It seems the latter may be the case. If so I have to agree with CAN

 

[Pilgrum]

Sandy is the appraiser poster child for birth control.
.

Taking up air?