adverse site condition

[Ken B]

Here you go. :new_popcornsmiley:


I'm partial to the dancing banana.

 

[stangtime]

There it is. Yeah, the banana one is cool too.

 

[J Grant]

That's for when threads enter Jerry Springer territory, with name calling and mud slinging! I guess you guys are bored, ...

 

[Mike Kennedy]

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.

Site Comments section:

external factors such as environmental hazards, ETC. due to close proximity to the site.

"B4-1.4-08, Appraisal Report Review: Off-Site
Improvements (04/01/2009)
Introduction
This topic contains information on off-site improvements, including:
• Off-Site Improvements
• Evaluating Off-Site Improvements
• Community-Owned or Privately Maintained Streets
Off-Site Improvements
Off-site improvements include streets, alleys, sidewalks, curbs and gutters, street lights, etc. The subject property should front on a publicly dedicated and maintained street that meets community standards and is generally accepted by area residents.
Evaluating Off-Site Improvements
If a property fronts on a street that is not typical of those found in the community, the appraiser must address the effect of that location on the marketability and value of the subject property.
The presence of sidewalks, curbs and gutters, street lights, and alleys depends on local custom—if they are typical in the community, they should be present on the subject site."

Community-Owned or Privately Maintained Streets
If the property is located on a community-owned or privately-owned and maintained street, an adequate, legally enforceable agreement or covenant for maintenance of the street is required.
Printed copies may not be the most current version. For the most current version, go to the online version at
https://www.fanniemae.com/singlefamily/originating-underwriting. 590

 

[J Grant]

Perhaps...that is the debate, some see a busy road as an external site factor...the OP marked it such, the UW said no as he had already covered it as a value item.

Maybe start a pool!

 

[J Grant]

Evaluating Off-Site Improvements
If a property fronts on a street that is not typical of those found in the community, the appraiser must address the effect of that location on the marketability and value of the subject property.

__________________
Agree on a buys road addressed as value and marketability factor, stated repeatedly in my posts. The above does not advise that a street that is not typical is an adverse site, factor, however.

 

[Mike Kennedy]

Evaluating Off-Site Improvements
If a property fronts on a street that is not typical of those found in the community, the appraiser must address the effect of that location on the marketability and value of the subject property.

__________________
Agree on a buys road addressed as value and marketability factor, stated repeatedly in my posts. The above does not advise that a street that is not typical is an adverse site, factor, however.

.......and when the market data indicates such location adversely impacts marketability and market value .......??

 

[J Grant]

?? Adjust for it.

still has nothing to do with the site section question.

 

[Craig Liesener]

I agree with the UW