Commercial Use in Residential Property

[Meandering]

Just maybe

There are recently, more questions concerning in home businesses lately........

Because the lenders know they are there, so the property won't qualify for a waiver, and the AVM won't know it has a commercial use,

so just push the liability for under valuing on to appraisers, who should know better, and are expected and REQUIRED by USPAP to DO THE RESEARCH, and not just ignore it like the AVM would.



Yup gonna giggle over the stories that will come out about appraisers undervaluing small businesses.

Just perpetuate the pattern.


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[Terrel L. Shields]

I noticed a local town whose Residential uses include day-care, elderly care, churches and even the city cemetery is zoned Residential District. Many of the major arteries OTOH, are designated as commercial roadway & commercial recreation...??? Yes, mostly houses.

 

[Meandering]

commercial recreation...??? Yes, mostly houses.

Houses of ill repute??

 

[Mark K]

Yup gonna giggle over the stories that will come out about appraisers undervaluing small businesses.

Since most of use appraise the rights in the real estate and not the businesses, I don't see much giggling in the future.

 

[Meandering]

Since most of use appraise the rights in the real estate and not the businesses, I don't see much giggling in the future.

Well you should,
when the use of one home is extended beyond just single family residential,
while the use of other homes remain restricted to single family residential.

Apple computers was founded in a basement, and then built in a garage.

Yeah you're right,
there was no extra value there,
Not like anyone would ever want to go see where Apple started.

The History of Apple Computers - ThoughtCo.com​

https://www.thoughtco.com/the-history-of-apple-computers-1991454
Apple Inc. — originally known as Apple Computers — began in 1976. Founders Steve Jobs and Steve Wozniak worked out of Jobs' garage at his home in Los Altos, California. On April 1, 1976, they debuted the Apple 1, a desktop computer that came as a single motherboard, pre-assembled, unlike other personal computers of that era.
.

 

[George Hatch]

Go back to the OP. SFR with no physical modifications, presumably held as a Fee Simple interest. That's what they're appraising in their assignment, not the non-realty rights which may or may not exist on site.

I find the implication that a CR is arbitrarily assumed to be incompetent and unqualified to perform an HBU analysis on a property that could go either way to be condescending and insulting. And wrong from at least a conceptual perspective. What will matter in this situation is competency, not the license. I provided the example of the CG who had the license but screwed up the competency angle on the HBU analysis of such a property in post #5 of this thread, so that just demonstrates the point.

IMO every CR should already have or be working toward the technical competency to perform an HBU analysis at this level. If a CR isn't already there then nothing is stopping them from getting there.

 

[glenn walker]

I

Just maybe

There are recently, more questions concerning in home businesses lately........

Because the lenders know they are there, so the property won't qualify for a waiver, and the AVM won't know it has a commercial use,

so just push the liability for under valuing on to appraisers, who should know better, and are expected and REQUIRED by USPAP to DO THE RESEARCH, and not just ignore it like the AVM would.



Yup gonna giggle over the stories that will come out about appraisers undervaluing small businesses.

Just perpetuate the pattern.


.

Meandering It's 2021 calm down-I am going To help get you woke you up --There is not going to be any stories coming out about appraisers under-valuing small business because we are not licensed to appraise businesses. And the SFR is now considered to be a Live To Work Property and 2020 & 2021 has changed the entire concept that a home is place to just come home and eat and sleep . How many years on the AF almost Immediately the H & B Use Zealots come out of their caves rambling on about H & B Use-and O' My God there may be Functional Obsolescence and do we need to bring in a MAI because this is so complex and confusing. Do appraisers who work out of their house call a GC to appraise their SFR ? last time I checked thats a business being operated but no matter what 2020 & 2021 changed the entire country's concept of the traditional single family home and its H & B Use is no longer the same as it had been for the last 150 years. That shipped has officially sailed and is not coming back .

Now being a deep thinker I wonder what if he had 6 appraisers working out of the bedrooms is this legal ? Maybe its a front for a sex trafficking cartel and there is a massage table and a trampoline in one room and now this is getting highly complex. Maybe that trampoline is indicative of a part time circus act going on and rope-less jump ropes so maybe its 12 X 12 gym thats being rented out-after all these owners are real sneaky these days and all have side hussies. May even be having three or four In-laws and Outlaws coming in after dark . This is strting to look like a serious H & B use and Functional Obsolescence Case.

Now my head is spinning because half of my lazy neighbors and 1/3 in the entire City now all work out of their-houses so we have millions of small home businesses -- Call out the Appraisal Marines- We need a new definition of what is a single family house and we need a new definition of market value to coincide with our new woken handicapping inferior challenged neighborhoods and how to establish a woke range instead of a single point of value in 2023. This is a new beginnings for us old Whiter than Woke Appraisers : ) LMAO

 

[glenn walker]

As-is
As-of the day

Location licensing and permits have to be verified,

Further than a glance at a map, oh it's in an R1 zone.

Grandfathered ring any bells with youse guys?


.

Sorry You are obsolete and done : )

 

[glenn walker]

Just maybe

There are recently, more questions concerning in home businesses lately........

Because the lenders know they are there, so the property won't qualify for a waiver, and the AVM won't know it has a commercial use,

so just push the liability for under valuing on to appraisers, who should know better, and are expected and REQUIRED by USPAP to DO THE RESEARCH, and not just ignore it like the AVM would.



Yup gonna giggle over the stories that will come out about appraisers undervaluing small businesses.

Just perpetuate the pattern.


.

STOP ---I UNDERSTAND BUT YOU ARE LIVING IN THEN NOT NOW In 2021- I Know it's Hard But that Ship Sailed : )

 

[Elliott]

I think we need a OP response.