What condition rating

[alebrewer]

The C-1 had to start with it being brand new construction and not having been occupied by a new owner.

The extreme examples of saying what if it hadn't been sold or occupied for 3 years are rare and a buyer would take that into consideration and what physical effect it had say by weather etc.

But just like a New Car by law if it hasn't been sold and it has say less than 100 miles it's a new car. If it sat unsold for 2 year's it's still a new car but potential buyer's would deduct any effect by offering a lower price.

A New Refrigerator that's sitting for 2 years on the sales floor or in a warehouse is still a New Refrigerator but again most buyers would offer less on price. A 5 year old New Delco Water Pump for a Chevy Truck is still Brand New not used. It's only used when purchased or installed.

The same standards apply to New Real Estate it's Brand New until Sold or Fully occupied by new owners. *** if it sits through 2 heavy winters it's brand new but may result in a buyer calculating a reduction in price. That's how I see it.

So you're one of the ones that can't tell what the difference is either, right?

 

[alebrewer]

Classic shaker cabinets are like 2"-2.5" rails and stiles.

What is popular these days are the slim shaker style doors and those are around .5" to 1" rails and stiles

let it go, man. We hear ya.

 

[DWiley]

I don't know why you are so hesitant to have an opinion.

Such a kitchen could be found in a property with a rating of C3, C4, C5 or C6. The overall condition rating for that home (or any home) would not be based solely on the kitchen.

 

[Joe Flacco]

Such a kitchen could be found in a property with a rating of C3, C4, C5 or C6. The overall condition rating for that home (or any home) would not be based solely on the kitchen.

Dang. You had to think about it a whole 24 hours.

That is obviously the case. The questions is what is the kitchen indicative of.

 

[DWiley]

Dang. You had to think about it a whole 24 hours.

That is obviously the case. The questions is what is the kitchen indicative of.

The only indication I can get from the limited info provided is that the home is not a C1 or C2. As I said, that kitchen might be in a C3, C4, C5 or C6. No way to be more specific without more info

 

[alebrewer]

The only indication I can get from the limited info provided is that the home is not a C1 or C2. As I said, that kitchen might be in a C3, C4, C5 or C6. No way to be more specific without more info

So are you saying that a physical inspection would be more meaningful than photos when estimating interior condition?

 

[Joe Flacco]

There really is no right or wrong answer and it doesn't matter. It's an opinion.

Only thing that matters is the comps are reasonable and similarly rated.

 

[Joe Flacco]

The main thing about this thread is that the original kitchen photo shows a kitchen that at one point everybody would agree was a C3. At some point that kitchen becomes a C4 and personally I think we are probably at that point now. Maybe way overdue to not be saying it is a C4.

 

[alebrewer]

To your prior point, does it really matter? So long as you're comparing apples to apples. The only folks who will be verklempt at this kind of logic are the ones who are afraid the machine won't run as well.

 

[DWiley]

So are you saying that a physical inspection would be more meaningful than photos when estimating interior condition?

LOL. I did not say that at all. I just said that the condition rating is based on the entire home, not just the kitchen.

As far as I know, appraisers have been assigning condition ratings based on third party data in almost every appraisal report they have done since the UAD was introduced. I mean, how many of the comps have they rated based on personal viewing? A few, but that is the exception.