Adjustment for pool

[Fernando]

Pools are nice but some people don't like it because of the upkeep costs.
If in wealthy areas, I believe pools are needed.
In high middle class areas, it's questionable. I find some like it and some don't. My subject has a pool and then I find a comp which had its pool converted into a lawn.
In CA where there seems to be a drought every 5 years, pools are frown upon.
What's your opinion on pools?

 

[ramrcdk]

Market determines "my opinion".

 

[glenn walker]

Pool boulders in SO CA are now over 6 to 9 months months behind on orders and no matter what people say in CALI they are we talk about drought they are using more waster than ever. Typically in my area a New pool will still only return about a 1/3 cost new and old ones at about 1/4 cost new. Personally unless you are wealthy they are a PITA-

 

[JeffSH]

Depends on the sub-market. Depends on the comps. Find a few old comp sales with pools and compare them to similar historic sales. That will give you the market reaction.

 

[shrubberyvaluation]

Pools are nice but some people don't like it because of the upkeep costs.
If in wealthy areas, I believe pools are needed.
In high middle class areas, it's questionable. I find some like it and some don't. My subject has a pool and then I find a comp which had its pool converted into a lawn.
In CA where there seems to be a drought every 5 years, pools are frown upon.
What's your opinion on pools?

My opinion is I don't want one.
My opinions of market value look at the market's reaction.

 

[sputnam]

Market determines "my opinion".

Exactly right.

 

[ZZGAMAZZ]

Pools are nice but some people don't like it because of the upkeep costs.
If in wealthy areas, I believe pools are needed.
In high middle class areas, it's questionable. I find some like it and some don't. My subject has a pool and then I find a comp which had its pool converted into a lawn.
In CA where there seems to be a drought every 5 years, pools are frown upon.
What's your opinion on pools?

To editorialize: Growing up near Pittsburgh, a prosperous family could afford an inflatable plastic wading pool; and we kids were f'g thrilled at the opportunity.

Serious question: Is an in-ground pool still termed a superadequate feature with corresponding functional obsolesensce if similar pools are "readily evident" throughout the neighborhood (market reaction notwithstanding, of course).

Comment: I have given up on trying to spell "obsolesence" correctly...

 

[Tim The Enchanter]

Some hoods here, if your subject has no pool, you might have to search extra hard for a no pool comp.
But at that point you are into 7 figures these days.
$50k for a pool is maybe a choice of pool or another BMW?

 

[Mike Ault]

Serious question: Is an in-ground pool still termed a superadequate feature with corresponding functional obsolesensce if similar pools are "readily evident" throughout the neighborhood (market reaction notwithstanding, of course).

If you're doing the cost approach on a home and know that the pool will only increase market value by 1/3 of the cost of construction then the difference had better be clearly indicated as functional obsolescence. And yes, "superadequate" although that is a ridiculous term obviously coined by appraisers to separate us from the riffraff. In a market where almost every home has a pool documenting the contributory value of same might take some extra homework. I would not indicate any functional deficiency on the sales grid of a GSE appraisal form however. "Normal"

 

[ZZGAMAZZ]

Some hoods here, if your subject has no pool, you might have to search extra hard for a no pool comp.
But at that point you are into 7 figures these days.
$50k for a pool is maybe a choice of pool or another BMW?

National TV news report earlier today that described the "average price" of a new "average can" is in the mid-$40K's....