What are my peers' adjustment values when appraising $1.7 to 2.1million?

[TerryRohrer]

Why is it always pulling teeth with you guys?

I mean, in this range in this neighborhood I'd do $100 per s/f GLA, $2 per s/f on lot. and $50-100,000 condition gradient and $30-40000 for a pool, $20,000 per bath, nothing for bedrooms, and $10,000 for a finished basement and $5-10000 per basement bathroom.

Is that really so hard to share with me?
Or do you just have nothing better to do at suppertime than bust my balls?

But, my experience tells me people will actually answer the question later in the day, so I should just let you guys do your thing and wait for a real answer.

The same homes here might bring $600,000 to $700,000. How can my adjustments be relevant to your appraisal problem?

 

[Dublin ohio]

Just wondering what you guys are putting? Or are you running sensitivity on the SF and using, paired sales or extraction on every report?
Why is it always pulling teeth with you guys?

I mean, in this range in this neighborhood I'd do $100 per s/f GLA, $2 per s/f on lot. and $50-100,000 condition gradient and $30-40000 for a pool, $20,000 per bath, nothing for bedrooms, and $10,000 for a finished basement and $5-10000 per basement bathroom.

Is that really so hard to share with me?
Or do you just have nothing better to do at suppertime than bust my balls?

But, my experience tells me people will actually answer the question later in the day, so I should just let you guys do your thing and wait for a real answer.

Your much better than me. Making 1% or less on adjustments for a $2M home. I can't get that accurate after 30 years

 

[John Hassler]

Assuming prices have not changed, and based on the info you provided, the GLA difference is $312.50/sf for the 400sf difference between the subject and the home across the street.

Can’t answer your question specifically as I don’t know your area but that would be consistent with a suburban land value of around 800,000 in my area.

 

[John Hassler]

Duplicate post

 

[cdanj]

I suppose you could PIOYA... but I do run a double sensitivity (age,size) on every sale after I do an Epley style (reverse cost approach) on every comp. I mean without actually manipulating the numbers how do you justify your EA? I mean an "observed" effective age as a comparison means you have some idea with the comparison is. Land is valued as if vacant and available for its highest and best use, therefore is just a dollar for dollar adjustment. And pools, outbuildings, etc. you either need to do individually or use a large sample of pools, outbuildings to plot as a simple single linear regression and see if the trendline is your friend.
You can find dozens of adjustment appraisal related videos on YouTube

That makes my head hurt. But to just address the Lot square footage.
is this what you mean?
Assessed Val/Equalization rate Lot S/F $per S/f
$603,745 12893.76 $46.82
$674498 16030 $42.078
$698,132 17076 $ 40.88
$513,869 11238 $ 45.72
$549,816 9278 $ 59.26
$566,657 10019 $56.56

Average $48.553

That would be the highest adjustment for land I've ever tank by 10 times. Except for vacant land.

 

[TerryRohrer]

Assuming prices have not changed, and based on the info you provided, the GLA difference is $312.50/sf for the 400sf difference between the subject and the home across the street.

Can’t answer your question specifically as I don’t know your area but that would be consistent with a suburban land value of around 800,000 in my area.

Uhmm...the reported difference is 500 square feet. Also, the $1.9 million is based on comps adjusted at $100/sf. I don't think there is sufficient information to conclude an adjustment rate.

 

[TerryRohrer]

That makes my head hurt. But to just address the Lot square footage.
is this what you mean?

Assessed Val/Equalization rate	Lot S/F	$per S/f
Average

[td]
603,745

[/td]
[td]
12893.76

[/td]
[td]
46.82

[/td]
[td]
674498

[/td]
[td]
16030

[/td]
[td]
42.078

[/td]
[td]
698,132

[/td]
[td]
17076

[/td]
[td]
40.88

[/td]
[td]
513,869

[/td]
[td]
11238

[/td]
[td]
45.72

[/td]
[td]
549,816

[/td]
[td]
9278

[/td]
[td]
59.26

[/td]
[td]
566,657

[/td]
[td]
10019

[/td]
[td]
56.56

[/td]
[td]
48.553

[/td]​

That would be the highest adjustment for land I've ever tank by 10 times. Except for vacant land.

In my experience, assessed values seldom equate to market value. Nor would I want to explain this methodology to anyone who mattered.

 

[Overimprovement]

Just wondering what you guys are putting? Or are you running sensitivity on the SF and using, paired sales or extraction on every report?
Why is it always pulling teeth with you guys?

I mean, in this range in this neighborhood I'd do $100 per s/f GLA, $2 per s/f on lot. and $50-100,000 condition gradient and $30-40000 for a pool, $20,000 per bath, nothing for bedrooms, and $10,000 for a finished basement and $5-10000 per basement bathroom.

Is that really so hard to share with me?
Or do you just have nothing better to do at suppertime than bust my balls?

But, my experience tells me people will actually answer the question later in the day, so I should just let you guys do your thing and wait for a real answer.

How the heck are we supposed to know what adjustments would be in YOUR market?

Sounds to me like you need to hire an appraiser. You really think someone from 1000 miles away is gonna give you credible supportable grid adjustments when we don't have ANY data?

You must think an awful lot of us!

 

[John Hassler]

Uhmm...the reported difference is 500 square feet. Also, the $1.9 million is based on comps adjusted at $100/sf. I don't think there is sufficient information to conclude an adjustment rate.

You are correct 500, not 400sf difference.

 

[Joe Flacco]

One thing I have gotten in the habit of doing is getting sales and subtracting out the value of the land. Then you know what the contributory value of the improvements is. Then divide by the size of the house and you get a ballpark figure of the per SF adjustment. It is at least a test of reasonableness for the structure size adjustment.