Using A 20 Mile Radius As The Neighborhood

[Meandering]

I understand what you are saying and I agree that happens too often, however there are cases where communities are neighborhoods. That HOA office with amenities and/or that pond area is complimentary to the surrounding residential homes.

Only because the HOA creates the external influence, via dues and by-laws that separate the community from the balance of it's neighborhood.

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[J Grant]

https://www.fanniemae.com/content/guide/selling/b4/1.3/03.html

useful

 

[residentialguy]

We have distinct small neighborhoods in some areas.
http://edinagis.maps.arcgis.com/apps/webappviewer/index.html?id=398f7f4e071240b0bdaaa0e7b4544e2b

 

[J Grant]

Complimentary land uses is bare boned basic short line definition...

To prepare a meaningful appraisal, that bare boned definition is not enough (though the canned comment crowd may use it). Where does a resident of a subdivision go for their local services to shop, send kids to school, find recreation, for access to transportation to centers of employment etc...the needed services are typically not contained in a subdivision or PUD community. While living in a community around a golf course can have a neighborhood feel in and of itself it is not a neighborhood, assuming residents have to leave their community to shop, dine out, attend school, get access to services .

The analysis of market impact of a neighborhood on value can only take place after the neighborhood itself is defined and described.

Because real estate is fixed location, the neighborhood is actually extremely important to define well.

For example, a luxury home gated golf course community within a neighborhood of other swanky homes with upscale shopping/dining nearby and edge of community abutting a nature preserve, will be different than a similar gated luxury home golf course community surrounded by tract homes, with fast food restaurants /Walmart nearby and close to a noisy Freeway.

Similar golf course luxury home communities, each located in a different neighborhood The impact on value of will be seen in prices/marketability in each community because of their respective location within a particular neighborhood. Confining neighborhood description only to the homes around the golf course would not give enough information.

 

[residentialguy]

Confining neighborhood description only to the homes around the golf course would not give enough information.

If you just described that, I would agree. But if you describe Rolling Green neighborhood for example (see my above link) as the neighborhood, which is located in the city of Edina, talk about the amenities, work, schools, etc, then you are more accurate.

 

[Mr Rex]

 

[Michigan CG]

I find that appraisers often undershoot on the size of the neighborhood. The definition requires complimentary land used (plural). I live in a very large subdivision, but it is composed entirely of SFRs. No bank. No markets. None of the complimentary uses necessary for residential living. Yet, when I see report for homes in my development most identity the subdivision as the neighborhood.

I have seen you argue this before but I am not sure I buy it. Below is a "town (cough, cough)" that has no bank, no market, no schools and is basically all SFR with a couple small businesses that barely survive. In order to go to a bank you have to drive six miles. In order to get to Johnny's band concert you have to drive nine miles.

 

[Eli]

What is the oldest age any have recorded in one-unit housing lately relative to one-unit housing trends on the 1004?

 

[Meandering]

I have seen you argue this before but I am not sure I buy it. Below is a "town (cough, cough)" that has no bank, no market, no schools and is basically all SFR with a couple small businesses that barely survive. In order to go to a bank you have to drive six miles. In order to get to Johnny's band concert you have to drive nine miles.

View attachment 31221

So,

That 20 mile neighborhood is still possible?

Looks that way from here.

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[Eli]

I use city limit vs County boundaries sometimes because there is a huge difference sometimes. It is not based on commercial property being there or not. Some people don't want to live in the city and some people don't want to live outside the corporate city limits. Schools, taxes, etc are factors. Some people drive 50 or 60 miles to a job 5 days a week one way. 120 miles round trip and not a traveling salesman. 10 or 15 miles to a grocery is nothing. That don't mean that business is in the subject neighborhood.