adverse site condition

[J Grant]

Sometimes it feels less like an appraisal bulletin board, more like an episode from the Jerry Springer show.

 

[Ken B]

Let me guess, you know first hand of unethical training because you once ran a profitable gin mill. You probably had trainees that now work for an AMC. You are a has been who's former clients no longer use your service. You now spend your days stalking appraisers on a message board, acting out your rage.

In your mind, your former trainees only exist because you allowed them to and how dare anyone work out from under your control.

You have developed some sick and perverted attachment to me because of your failure as a mentor.

Just my guess!

You guess. I research. That's what real appraisers do.

 

[mark hurlock]

You guess. I research. That's what real appraisers do.

So your hatred for appraisers who you feel are beneath you runs deeper?

There's a scary thought.

 

[mark hurlock]

Imo fwiw, significant natural or man made area features, negative or positive, are neighborhood characteristics. However, when a subject has immediate proximity to a neighborhood characteristic, then it also becomes subject specific, as to site conditions or external factors as well as value impact. A nuclear power plant or river are neighborhood characteristics, the homes that back up to them are impacted differently than homes a half mile away.

It works the same way whether it's a negative or a positive influence, as far as market reaction, and from there , adjustments.

A neighborhood characteristic defines a neighborhood/market area and is a reason buyers are drawn to, or driven away from, choosing certain areas (and paying certain price points). An immediate proximity then becomes more subject specific.

J, I understand your point. I just don't think a contaminated lot is what FNMA had in mind for the neighborhood description section.

I don't believe it is a distinguishing feature or quality of a neighborhood, good or bad.

I do believe it is a hazardous location within proximity to the subject that must be disclosed and narrated in the adverse conditions sections as instructed by the selling guide.

That's all, nothing more.

In contrast, a major highway can be both a distinguishing feature and a potential adverse condition depending on proximity.

It was a poorly chosen example to argue for a URAR assignment.

 

[Gregory Beck]

Subject backs to busy street is not an adverse factor. Go find closed sales that back to busy streets. Matched pairs

 

[PDXOregon]

I have always marked the Yes box for an adverse site condition for a house that backs to a busy road. After reading this thread and doing research related to it I don't think it is incorrect to not mark Yes but the external obsolescence obviously needs to be addressed. But I will still mark Yes.

 

[J Grant]

Subject backs to busy street is not an adverse factor. Go find closed sales that back to busy streets. Matched pairs

That is my thought on the matter as well. Backing to a busy street is a factor that affects, or can affect, value, and/or marketability of the entire property...site and improvements.

The question UW references is in a site specific section ,concerned with external factors (or conditions) that affect site only. (the physicality of the site, such as hazards from environmental , or legal restrictions affecting use of site use aka easements and encroachments.

I sure as heck would photograph it....!( kinda hard to photo a noxious odor or ear splitting noise of a jet plane)

 

[Mike Kennedy]

Subject backs to busy street is not an adverse factor. Go find closed sales that back to busy streets. Matched pairs

Perhaps not in Fort Lauderdale, however, I assure you in many other markets site's backing to busy streets (either primary or secondary access roads) most assuredly suffer from External Obsolescence as buyers routinely perceive increased noise, potential danger for children playing in rear yards, increased auto and truck gasoline odors etc. as "adverse" to "quiet enjoyment". In this neck o' the woods, most similarly impacted residential lots and improved sites typically suffer considerable, and measurable discounting for inferior location and often inferior views. As with all in appraisal, "it depends".

 

[J Grant]

Perhaps not in Fort Lauderdale, however, I assure you in many other markets site's backing to busy streets (either primary or secondary access roads) most assuredly suffer from External Obsolescence as buyers routinely perceive increased noise, potential danger for children playing in rear yards, increased auto and truck gasoline odors etc. as "adverse" to "quiet enjoyment". In this neck o' the woods, most similarly impacted residential lots and improved sites typically suffer considerable, and measurable discounting for inferior location and often inferior views. As with all in appraisal, "it depends".

I said, (please see my posts) busy roads can be an adverse marketability factor and value factor . (here as well if often is and then it affects house and site together, )

The site section on page one however is not addressing obs from perspective of buyers/value loss, it is asking about physicality, of site conditions or legal uses or or external factors such as environmental hazards due to close proximity to the site.

 

[stangtime]

Where did the popcorn icon/gif thing go?