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A Black couple ‘erased themselves’ from their home to see if the appraised value would go up. It did - by nearly $500,000

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Didn't read the 100 Posts.
So, was it found to be " true " or more Fake BS News?
 
Even within the subject subdivision, there could be many motivations between buyers and sellers that could impact opinion of market value. Many different possible influences on an individual sale in subject subdivision.
 
It looks like a neat neighborhood to me. I kinda like the design and appeal of it personally. Possible the owner may be a little over improved.
 
The owner may have went a little overboard for the immediate subdivision in updates and improvements.
 
Dude yesterday just spent 90K on new heated pool and hot tub. He may get it back in the subdivision he is in. I am not through with the appraisal. I told him it is not likely you get $90k in value. However, he is in a very high value area, small city limits, with high income individuals. We will see. I will get there eventually. He is black. Nice man.

He gave me all the specs on the new pool. He works for govt.
 
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Zoe said:
Dude yesterday just spent 90K on new heated pool and hot tub. He may get it back in the subdivision he is in. I am not through with the appraisal. I told him it is not likely you get $90k in value. However, he is in a very high value area, small city limits, with high income individuals. We will see. I will get there eventually. He is black. Nice man.
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Why?
 
I told this black owner he already has one of the largest home in neighborhood when he asked me if he should expand a little area. I said "NO". You are already one of largest homes in subdivision. Do not do it.
 
ramrcdk said:
Why?
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He may. He will get copy of appraisal. I don't share opinion of market value with anybody except client. The homeowner will get copy of appraisal.
 
In very high income areas in my market, pools can very well add market value equal to costs. He was fine with my response. He already told me what he would ask for his property if wanted to sell it. We will be fine based on preliminary analysis. He is not over improved. Very small city limits. Very exclusive in regards to income levels. You really can't live there unless you are high income.
 
Let's go back to subject. Owner spent $400K or more in improvements. Would you have advised them to do that in this subdivision?

Have to spend time on H&B use analysis. Market value opinion is only value opinion I am aware of that requires H&B use analysis.
 
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