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Appraising A "log House"

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jtrotta

Senior Member
Joined
Jan 16, 2002
Not sure yet, but have an order to do a "Log House", actually one I helped build over 20 years ago; anyone think I should pass on the appraisal :question:

Think there maybe a Conflict of Interest here :question:


:ph34r:
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
jtrotta if it's a decent client maybe it's a good time to get some brownie points, if it's not a good client, I'd run like hell. :) Seriously, I get about one log home a year and what I normally do is include 5 comps, 3 are typical dwellings, comps 4 and 5 are log home sales over a year old or many, many miles away. Always seems to work. I always make design and appeal adjustments too. Paired sales work wonders on these monsters. Of course there will be some in here who tell us how log homes are typical for their market. As for the conflict of interest, the LO will probably buy it. I'm amazed at the tales I dream up to get out of hard ones. :)
 

TEL2002

Elite Member
Joined
Jan 16, 2002
Professional Status
Retired Appraiser
State
Louisiana
You could add comments about how the log home showed obvious signs of being built with tlc, true craftsmen and you could not have done a better job yourself.

I agree about doing logs...hope for 1 sale within the last 2 years and add 3-4 other comps. Hopefully one of them is a unique type of home.

The last one I did, they wanted to know the distance to the nearest log home dealer/builder, how many log homes were in the school district and in the county.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
What, what what. You guys don't have log homes in yuor neck of the woods? Heck, here it TX we have everything. We got your log homes by the forest load, we got your earth homes by the dirt load, we got your manufactured homes by scrap loads, we got your trouses,we got your a-frames, we got your h-frames, we got castles, we got your hi-rise (all the way up to 25 floors) condos and we got your farm houses too. ain't TX grand. Some call it diversity, I call it yankee transplants. Cause we Texans live in houses with indoor plumbing, even. :D
 

Rich Hahn

Senior Member
Joined
May 2, 2003
Professional Status
General Public
State
Colorado
You helped build?
So you know what mistakes occurred during the process.?

I helped build a log years ago and there were many mistakes along the way...

As long as you didnt stuff cork into the logs I think your reputation will not be tarnished.
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Tim you left one out. You Texans have your modesty too. :)
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Bobby, some would say we Texans don't know when to shut our mouths, either. Of course, I have never heard it because I never stop talking long enough for anyone to say it. :D
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Original question, unless you were the original designer or did most of the building, I doubt that it would be a conflict of interest. What, you can't appraise a store because you shopped there once? Actually, you will have so few comps that it would be hard to manipulate a value with any conflict of interest.
 

jtrotta

Senior Member
Joined
Jan 16, 2002
thanks fer the input; as far as diversity we have it all right here and Tim yer right they all must NE transplants :beer:

Rcih; mistakes :question: - actually it was my Dads partner (carpenter teammates) - and don't think there were many mistakes, perhaps some unplanned manuvering. the thing I remember best was bein chased by the Bull, he had a small farm wit some aminals :mrgreen: - course we couldn't pass up runnin wit the Bull, cause we'd never git to pamplona; actually were still runnin wit the bulls, mostly from the Lending sector, but hey reality bites yano :mrgreen:


chow fer now

:ph34r:
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
No conflict of interest that I can see unless you remember something you forgot while building it. (TIC)

Log homes are not that hard to do. Just don't forget all of the manual labor that goes into a good log home. The main problem in doing an appraisal on a log home is that the UW always want at least 2 of the comps to be log homes. Be prepared. The other thing is that log homes, at least in my market, don't sell for what the owners think they should and often not what they have into the house. They are not an easy sale, even up here in the northland.

There is something romantic about a log home but when it comes down to putting down the hard earned money, a lot of buyers shy away. I see extended marketing times and sky high expectations on the part of the sellers, unless it is waterfront or has a magnificent view of Lake Michigan.

More and more folks are going to traditional frame style houses with 1/4 log siding and T&G knotty pine or cedar on the inside. On house I did, the builder put 1/4 log on the inside of all of the exterior walls and then T&G KP on the other walls. Gave the illusion of log but none of the building/selling headaches.

Good luck on it. Let me know if you need some comps. I have plenty.
 
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