Bias terms and adjacent religious properties

[ZZGAMAZZ]

On the day I inspected, there was an event at one of these churches where the overflow parking completely covered up the street of my subject property. I wonder if it's like that for every main function there. It just so happened I was leaving at the same time the event was wrapping up. It took me over 20 minutes to get out of the driveway and off this street. Lucky for me I have some data on this very street going back a few years, so I have something to work with in terms of marketability. It just irritates me that I waste time and energy dancing around how to describe something so plain and simple. I settled on describing these properties as large 'non-residential/non-commercial use properties' and provided photos of both the properties and of the parking on the subject's street.

Yea, but what a blessing it was that your inspection was affected by the event, of which you otherwise presumably would not have been aware...

 

[ZZGAMAZZ]

Our resident anti-theists might consider a religious use property to be more damaging to their mental health than a prison

Yea, but as an aside to your comment, the potential exists for anti-religion terrorrism, slim statistically but probably as frequent as school or hospital or grocery store incidents....

 

[Terrel L. Shields]

substitute terms for religious facility

Holy roller temple
bible thumper palace
kingdom hall
cathedral
basilica
meetinghouse

 

[Zoe]

Zoe, i have never heard you call anyone a protestant friend. Not that there's anything wrong with saying i have a jewish friend.

Boy oh boy, does this property cry for similar locational comps. I see a list of stips.

Your misreading me. Memphis has a huge Jewish population. This appraiser I was in communication for a few years was Jewish. I considered him a friend.

We probably appraised more places of worship than anybody in Memphis MSA.

I didn't hide my religious beliefs with him and him neither with me. He works for large appraisal firm and I know many of them.

The appraisal firm he works for is not all Jewish belief in religion. Many jews are Christians. Jesus is one.

I didn't hide my relgious beliefs with any pastor where I appraised the place of worship.

 

[Zoe]

Okay, let me digress. I got plenty of work for religious facilities from a broker that sold most of them and a few banks that financed most or them.

I made good money doing them.

I met some of best people in the world doing them.

 

[Zoe]

Years into the spotlight on appraisal bias and specific words used in reports and I still struggle with how to walk this tightrope while still accurately describing the characteristics of a property. I am currently working on an assignment of a single family house on a one street subdivision of 8 homes. This street is nestled between 1 large campus type religious property (church plus school plus other buildings) on 1 side. On the other side is another large church property. This is in an otherwise predominantly single family area. These 2 properties really stick out against the surrounding smaller single family properties in the aerial views. How can I somewhat accurately describe this location without straying into the land of bias? The first thing you notice about this location is these 2 adjacent properties.

This is a little different. I don't know your single family market. I am not certain the place of worship would be willing to pay as much or more for the religious facility. i assume your definition of value is market value. Extraordinary assumption. You are on H&B use if MV is your value definition.

MV definition requires H&B use analysis. Think about it. What is your value definition?

 

[Zoe]

This is a little different. I don't know your single family market. I am not certain the place of worship would be willing to pay as much or more for the religious facility. i assume your definition of value is market value. Extraordinary assumption. You are on H&B use if MV is your value definition.

MV definition requires H&B use analysis. Think about it. What is your value definition?

My point is you need to talk to those places of worship about the subject property. Tell them what you are doing. Not confidential. Say, do you know about this property? H&B use is something you have to focus on if MV is your value definition.

Just pop in or call them on the phone or whatever.

 

[OSU Beavers]

Is "House of Worship" still Kosher?

 

[Zoe]

Is "House of Worship" still Kosher?

I don't wear my feelings on my skin. Your killing me.. LOL

 

[LesPaul59]

Would the market penalize or reward the property for its location between the two non-commercial places of gathering or not?

Let the comps tell you