Adjustments in Michigan

[Michigan CG]

Mr. Barber,

I hope you are joking...being rhetorical....

Acreage = $1,000 per acre
Sq. Ft. = $10 per
Bedrooms = $1,500 each
Full Bath = $2,000 each
Garages = $1,000 (per stall)
Fireplaces = $1,500
Decks = $500
Fences = $250
C/Air = $1,000

 

[Artemis Fowl]

This one of those $500 decks?

Any tips on the Cost Approach too?

 

[Smokehouse]

There is a great book out called "Appraisal Adjustments for Michingan" you can find it at amazon.com, ithas adjustments for everything you could possible imagine.

 

[ElizabethMarie]

Sometimes you actually have to think about it....you may typically adjust $1000-$2000 for garage/stall, but would that work for a house in a neighborhood where home values are $350-$400,000? Thats less than 1%...there is more to this job than putting numbers in boxes.

Cheers!

 

[Lee McClish]

I LOVE THIS PLACE!!!! This is the best time I've had all day! Can anyone figure out why there is so many problems in the secondary market? I mean no offense to anyone here, but wouldn't seem like you should know how to get adjustments before you are allowed to make adjustments? I mean I have only trained a couple of people, but not one time........never did I throw them under the bus like this poor soul. It's hard enough to make it in this business, let alone to be in it blind! Where is your mentor? Better yet who is your mentor? I sure hope you are not signing reports for federally related transactions. Just so you know, you shouldn't do that.

Everyone is right about extracting your adjustments from the market. Just keep in mind that most (I said most) of the time you will find your adjustment will not exceed the cost of the amenity you are adjusting for. (I did say most).