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Attached town house / garden home comp?

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Dennis

Thread Starter
Sophomore Member
Joined
Jan 17, 2002
Professional Status
Licensed Appraiser
State
Alabama
Got an FHA on an attached townhome, its an end unit with a large yard. No recent sales of end units, although the subject has the largest yard in the development. The only way I can show value for the lot is to throw in a detached SFR as a comp. since they have similar lot sizes.

Am I asking for trouble from HUD if I do this????
 

Marcia Langley

Senior Member
Joined
Aug 26, 2005
Professional Status
Certified Residential Appraiser
State
Missouri
Dennis,

It would be better to use an outdated sale, active listing, or farther sale of an end unit with a similar lot size.

Comparing it to a detached house would be an extreme last resort that would carry complicated adjustments between attached/detached.
 
Last edited:

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I would not use detached as a comp!
 

Ken B

Elite Member
Joined
Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
No rentals from which you could extract an adjustment?
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Got an FHA on an attached townhome, its an end unit with a large yard. No recent sales of end units, although the subject has the largest yard in the development. The only way I can show value for the lot is to throw in a detached SFR as a comp. since they have similar lot sizes.

Am I asking for trouble from HUD if I do this????

Do you have market data that indicates what the adjustment might be for the difference (attached vs. detached) between the two types of properties?!?

Better to go back in time to determine what the difference is between an attached interior unit vs. an end-unit with a larger site.
 
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