Beautiful landscaping. Too much?

[Esox]

I inspected a five year old property yesterday for a relo assignment. Golf course development around a links/prairie style course. House is not on the course. Properties in the development have really struggled. I went through on a lock box. When I interviewed the owner and asked what improvements he had made since purchasing, he raved about his landscaping.

The landscaping around the property is indeed very beautiful. I am concerned because it has been planted with wild prairie grasses at the rear, and wildflowers and ground cover native to WI prairies in all the beds around the house and in stone bordered beds away from the house. Tough to measure without stomping stuff.

While really attractive, I cannot imagine the work involved in maintaining such an ecosystem. I think it's going to hurt this property. I'm thinking about considering it like an appeal/decor issue for the site. I have a few sales in mind to look at to try and determine what affect this might have, and will also consider the cost to make this more conventional and less elaborate. I can already hear the fax machine and picture the appeal letter coming through.

Do you ever get out of your car and think, wow, this is nice, but only about one in a thousand crazy buyers would want to take care of this?

Kevin

 

[Randolph Kinney]

Landscaping can be important is some developments however, it is the hardscape that adds most to the value. Plants are too much of a personal choice just like color of paint.

See if you have any comparable properties with and with out the degree of landscaping to isolate a market reaction.

 

[Couch Potato]

Do you ever get out of your car and think, wow, this is nice, but only about one in a thousand crazy buyers would want to take care of this?

Kevin

Very few buyers would react to the landscaping in terms of taking care of it. They react to how it looks at the time of purchase. You are correct in thinking a purchaser will likely not care for it properly, but they also may never paint the interior, repair the roof when is wears out or wash the bath tub. People who are concern enough over yard care to have it affect the price they would offer by condos. You have to value the property as it is on the effective date.

 

[Esox]

Very few buyers would react to the landscaping in terms of taking care of it. They react to how it looks at the time of purchase.

I think you're wrong here. There are a number of other nicely, albeit not as nicely, landscaped properties that are competing with the property. At this ealry point, my gut says buyers would consider the upkeep involved. And I am not estimating the value of the property as of the effective date of the appraisal. I am developing an estimated anticipated sales price based on a marketing period not to exceed 120 days.

Kevin

 

[Couch Potato]

I am developing an estimated anticipated sales price based on a marketing period not to exceed 120 days.

Kevin

In that case you do need to consider what it will look like in the future rather than what it has looked like up to this point. I am speaking as one who is "allergic to yard work." Such stuff is very easy to just let go. Just because it is there, does not mean the new owner will choose to maintain it's current state; just as they may choose to install new carpet or paint the walls.

 

[Terrel L. Shields]

Very few buyers would react to the landscaping in terms of taking care of it. They react to how it looks at the time of purchase

my feelings too...

you do need to consider what it will look like in the future

oh? Are you appraising it "As Is" or a hypothetical future view of it?

I am not following you very well on this. While I don't believe landscaping will return a dollar for dollar/time spent amount for sure, but the market appeal imho remains. The house next to my nephew's sold in days. Super landscaping and kept the owner busy on a daily basis. But the new owner doesn't care for it in the same way. The curb appeal is diminished although the house is pretty much the same. People do respond to appearances without speculation of the furture work involved. Why would anyone buy a house over 30 years old if that is the case..older homes require more maintenance of all kinds.

 

[Esox]

In that case you do need to consider what it will look like in the future rather than what it has looked like up to this point. I am speaking as one who is "allergic to yard work." Such stuff is very easy to just let go. Just because it is there, does not mean the new owner will choose to maintain it's current state; just as they may choose to install new carpet or paint the walls.

I am seriously afflicted by the same allergy, and I'm trying not to let that affect my judgement in this case. I'm pretty sure the relo company and corporate client don't care what the new owner would do, but are more concerned with what they are thinking when still prospective buyers. I have not been asked to appraise this property "as if vacant" or this would be an easier explanation in my report. If this yard is left untended, I think it could deteriorate quickly, and I would report that to the client. Most ERC requests these days do come with an "as vacant" requirement, but this one does not.

Your comment about carpeting and paint is applicable because we are asked to consider personal color choices in both for an ERC assignment if we feel market conditions are such that a more neutral interior would enhance the property's marketability.

In the case of this property's landscaping, if it were the reverse, and the site was very badly tended compared to the high number of competitive listings, an adjustment would certainly be warranted and more easily supported I think. There will be the WOW factor for some buyers, but due to the limited number of them out there, I fear far more could suffer the same allergy you and I do to varying degrees. The thought the landscaping might be a problem hit me very strongly while I was doing the inspection.

Though here in Cheeseland we have not experienced the horrors of other parts of the country, nonetheless, predicting what houses will sell for within 120 days is pretty difficult these days. I find myself scrutinizing properties for items that made no difference at all in healthier times.

Kevin

 

[Smokey Bear]

Native species generally take much less care than typical landscaping does. Maybe you should ask who the landscaper was and ask them what is involve in maintenance. After the plants root well they should need very little maintenance.

 

[Couch Potato]

The only way I would see it as a negative is as with carpet and paint. Would a new buyer be likely to remove it? You said it is beautiful, so I don't see it hurting the marketing of the property. You also mention the plants are native to the area, so maintenance might not be as rough as you think. Like me, you may want to consult a local expert in regard to maintenance requirements for landscaping.

 

[Esox]

Native species generally take much less care than typical landscaping does. Maybe you should ask who the landscaper was and ask them what is involve in maintenance. After the plants root well they should need very little maintenance.

Ah, now that's something I had not thought about. Thank you. That's why I'm thinking this through. My sister is a master gardener and I shall consult her about the hardiness of these native species. Her lake front property is similarly landscaped, though not with native plants, and all she does is garden. I suspect she has become bloodless due to the current crop of WI super mosquitoes.

Perhaps my allergy is clouding my judgement. This thing is going to be real tough to sell in 120 days, and I want to make sure I consider everything.

Kevin