Age/Depreciation Adjustments in Sales Comparison

[fifteen]

Mike - it can never be older than it's actual age. Maybe it reached the end of it economic life too early. It's expected life doesn't reflect its actual life. If it died at 9, it wasn't due to it's actual age, it was due to conditions. Actual age is immutable. I could say bearsilde is 90 but if her actual age is 60, I'm lying.

Come on, use your heads - are there any facts that are the basis of your valuations?!! Reality seems to be a whim for the appraisers pleasure. Actual age 10 effectively 80 and $100k adjustment. I'd love to see most of you in court. For some reason you think fantasy is your domain and you're king of all you survey. You forgot, this is not yours

 

[Mike Kennedy]

Mike - it can never be older than it's actual age. Maybe it reached the end of it economic life too early. It's expected life doesn't reflect its actual life. If it died at 9, it wasn't due to it's actual age, it was due to conditions.

CORRECT!!........ its' actual age is STILL 9 years........

..... it's EFFECTIVE AGE (given those "conditions") .............is ...............what?

lets see - new roof, new ceramic floors kitchen, baths, new oak flooring, new vinyl siding on at least the left side - probably at least one more side of the house, all new bathrooms, new garage doors ..........etc.

(note: the scenario didn't address deferred maintenance/damage to the rear deck which used to have 3 levels now 1.5 and aluminum ladders to get up from grade cuz the 5 dawgs decided cedar stairs taste reallllllllllly good )

 

[fifteen]

It's effective age can never exceed it's actual age. You have condition problems that do not relate to age. Age is immutable. It never changes. Court? No facts in your valuation?

No one and no property can be older than they actually are. I guess the concept is called "time"?

They can be a total wreck and reflect 80 when they're 50. That reflection is the particular condition of this 50 yr old.

 

[Mike Kennedy]

It's effective age can never exceed it's actual age SOURCE?

1. Do you, or don't you, EVER use the Term "Effective Age" in your reports.

2. IF you do ............what is your source?

3. IF you do not, why not, and what is your source for omitting EA from your reports?

 

[fifteen]

Funny thing. You guys have usurped time. What's next?

Effective age has to reflect an existance and can never be more than the existance it reflects. Unless you believe you're more alive in the mirror than you are bwahahhhaaa

 

[Mike Kennedy]

In case you might have missed it, simple YES or No answers will suffice along with the sources to support whichever practice you employ. Thanks.

http://appraisersforum.com/showpost.php?p=1864610&postcount=94

 

[CANative]

15 wins.

Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
No!
Can I dad, please?
YES!!!!!!

 

[fifteen]

Thanks Greg! But, enlightenment is worth more than accolades. Poor Mike, lol

Sincerely, Ed

 

[CANative]

Thanks Greg! But, enlightenment is worth more than accolades

:-/

Homer: Oh, come on, honey. You know how it turns out.
After all, you wouldn't be here today if I hadn't become the
responsible head of a household.
Bart: [poking his head into the room]
Hey, Homer, can we have a can of frosting for lunch?
Homer: Okay.

 

[Mike Kennedy]

Thanks Greg! But, enlightenment is worth more than accolades. Poor Mike, lol

Sincerely, Ed

Effective age has to reflect an existance and can never be more than the existance it reflects

When you come out of your self-imposed state of denial - Existence is spelled with 3 letter Es