C1 or C2

[J Grant]

The age field is for age adjustments. The condition field is for condition adjustments.

I wrote that as meaning age is a component of C 1 or C 2 when an appraiser is trying to decide between the two ratings for a property.

A house built a month ago is C 1. A house built 9 months ago.... could Be C 1 or C 2 depending on other factors, whether it has depreciated if it was ever lived in , etc.
The UAD ratings mention specific criteria but they are also holistic, to form a better rating choice when it is close between them.

 

[alebrewer]

I would rarely say that condition has an impact upon quality.

On the contrary, if they put new hardwood floors in a home, that could affect both condition and quality - depending on the quality of the flooring. If they renovate a kitchen, that's a condition issue right? But what if they renovated it with Wolf and Sub Zero appliances? That goes to quality, does it not?

 

[Deleted member 142783]

Does not matter. Choose either one and explain the condition.

If this was not a UAD form you wouldn’t have the number, just description.

This is a matter of opinion (yours). Explain the condition and choose c1 or c2. Don’t matter which. Splainin it what matters

 

[sputnam]

Subject was sold as new construction about 9 months ago. Now it is under contract as my subject. I was told it was never lived in. C1 claims "very recently constructed." Is this in the time frame of very recently constructed (assuming it didn't sit around before the prior sale)?

Don't care.

 

[J Grant]

On the contrary, if they put new hardwood floors in a home, that could affect both condition and quality - depending on the quality of the flooring. If they renovate a kitchen, that's a condition issue right? But what if they renovated it with Wolf and Sub Zero appliances? That goes to quality, does it not?

Replacing floors with hardwood or high-end appliances is an upgrade- it did don't affect the Q rating of the structure itself. Yes, overall, it adds to quality, but it is still an upgrade that can be replaced at any time. But you cant' replace the entire Q construction and design of a house ( or not without spending huge sums to do so)

Q descriptions reference the architecture itself, and this is what the quality condition ratings are for. This fact feeds into other aspects: Are upgrades an over-improvement for certain houses, or are they a buyer expects as the norm/typical for other houses?

An owner can put in Wolf appliances and new hardwood floors into a Q4 wood frame ranch house and it will not change the quality of the construction. In fact, Wolfe appliances will be a super adequacy. I do many Q2 houses and Wolf appliances and hardwood floors are typical for them. But if those Q2 houses had avg appliances or floors, the athicteture would still be Q 2- high ceilings, high quality, roof, impact or large windows, better construction materials, fenestration or ultra-modern style. A buyer purchasing a Q 2 house can upgrade it with high end appliances and floors at any time and often wealthy people do that - buy a nicely upgraded house, and rip it all out inside and remodel the interior, or update parts of it to latest trend or custom per their taste..

Imo, more appraisers could be adjusting on a line item for upgrades or remodeling just fill in one of the blank line items -

 

[alebrewer]

Q descriptions reference the architecture itself, and this is what the quality condition ratings are for. This fact feeds into other aspects: Are upgrades an over-improvement for certain houses, or are they a buyer expects as the norm/typical for other houses?

Is this per F/F or per JGrant? It's a rhetorical question - I already know the answer.

 

[Cob]

C1
The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are new
and the dwelling features no physical depreciation.

 

[J Grant]

Is this per F/F or per JGrant? It's a rhetorical question - I already know the answer.

I am commenting on the F/F UAD, just as you did in your post.

Does this board exist for appraisers to exchange viewpoints or to lob snarky insults? It's a rhetorical question—I already know the answer.

My post 45 was about the topic; yours was about me. As usual.

 

[alebrewer]

I am commenting on the F/F UAD, just as you did in your post.

Does this board exist for appraisers to exchange viewpoints or to lob snarky insults? It's a rhetorical question—I already know the answer.

My post 45 was about the topic; yours was about me. As usual.

You stated as fact that F/F quality descriptions reference the 'architecture itself' when, in fact, that is nothing more than J's interpretation of what their intent was/is. Based on the definitions provided, quality assessments are based on the design, the workmanship, and materials, and finishes. My point was that someone who is not familiar with the definitions might read your post and assume it was/is correct. Design is one facet that is considered in quality assessments. Other facets include workmanship, materials, and finishes.

See if this scenario helps you understand:
Two homes are updated with new flooring - one with vinyl flooring and one with handscraped hardwood flooring. The appraiser performs a matched paired analysis of homes with similar features and determines the market places a $10k premium on homes with hardwood floors vs homes with vinyl flooring. Now - where does that $10k adjustment go? Can't go in the condition field as both sets of flooring are new (i.e. C1). The only other options are design or quality... (in my head the Jeopardy music is playing and Turd Ferguson is wearing a giant cowboy hat)...

 

[J Grant]

I did not state it as a fact; that is your take on things. Just as you do in our posts; I am voicing my opinion - need I say it every time i write a post like a legal disclaimer ? The language in the UAD for quality references the construction and design of the houses, not just the interior upgrades.