- Feb 21, 2006
- Professional Status
- Certified Residential Appraiser
Working on a 1004 in Oceanside, San Diego, CA. Working within the subject area which consist of approximately 20 homes built in 2003 which is not a PUD with no HOA or Melo Roos fees. The subject is enveloped by PUDs and gated communities that have a nominal HOA. What makes matters worse is that a review of the past 20 sales both PUD and non-PUD that are proximate and relevant to the subject in terms of GLA, age and overall appeal, 19 are either short sales or REOs. The one sale that that was a resale sold within the same range as the bank sales. I am sure that I am going to have to write a book of explanation but I have never had this situation before - at least, not as of yet.