Adjustment

[uncle sam]

I have a 1,400 square foot ranch with a brick exterior, and a 1,400 square foot ranch with a vinyl exterior. What adjustment would you make for the brick?

 

[glenn walker]

I have a 1,400 square foot ranch with a brick exterior, and a 1,400 square foot ranch with a vinyl exterior. What adjustment would you make for the brick?

Whats Under the Vinyl ? Old wood ? But outside of making a guess how would you extract the adjustment ? Maybe under Quality of Construction .

 

[J Grant]

I have a 1,400 square foot ranch with a brick exterior, and a 1,400 square foot ranch with a vinyl exterior. What adjustment would you make for the brick?

If your market shows one, make it . If not, then don't. Call area RE agents and ask them as well are buyers paying more for brick vs vinyl ext

 

[Charles West]

What kind of brick, just a veneer? Vinyl is like $2 to maybe, $6 or $7, brick is more like $12 to $15. Vinyl has a limited life while brick is almost forever. I'd find a different comp. And if my dollar figures are off it's because I haven't had to deal with vinyl in a long time. I've torn it off a couple times though.

 

[NC Appraising]

Sometimes none. Sometimes $5,000-$12,000.

If it is a simple 1960s rectangular home, 0 to minimal.

If it is more complex design, a higher adjustment could be warranted.

Location and overall condition. If it is located in a mostly tenant occupied neighborhood, usually there is no market support. If it is located in a area where flipping is going on, an adjustment is usually warranted.

Do a simple reg. analysis in the MLS of full brick and vinyl homes. Our MLS has that search function.

 

[Aim High]

I have a 1,400 square foot ranch with a brick exterior, and a 1,400 square foot ranch with a vinyl exterior. What adjustment would you make for the brick?

Depends! If the interiors are similar and the cost per square is in a tight range, then I will make no adjustment. If match pair analysis works, or the cost psf of brick is higher, then use quality adjustment. Some of my adjustments range from 5,000 - 25k after some data analysis.

 

[NC Appraising]

Depends! If the interiors are similar and the cost per square is in a tight range, then I will make no adjustment. If match pair analysis works, or the cost psf of brick is higher, then use quality adjustment. Some of my adjustments range from 5,000 - 25k after some data analysis.

Good point.

If the vinyl home has superior quality (larger kitchen, deluxe owners bathroom, wood floors, trey ceilings, mouldings, granite, etc., it could equal it out.

 

[Tom4value]

How is the quality? It seems to me that it would be very difficult to do a market extraction for that. The brick would probably be indicative of a overall quality adjustment instead of a siding adjustment.

Unless……is there a history of wolves blowing down houses in that neighborhood?

 

[shrubberyvaluation]

I have a 1,400 square foot ranch with a brick exterior, and a 1,400 square foot ranch with a vinyl exterior. What adjustment would you make for the brick?

I'd look at the market reaction.

 

[Terrel L. Shields]

I have run regression analysis on that with a 0,1 query - Brick, full yes no -Brick always showed a substantial increase in value over vinyl or wood. Don't have it handy on this computer but I am thinking maybe 6% higher - caveat, that also might reflect a quality issue as brick homes tend to be a mite better grade overall.