Commercial Vs Res, Who Appraises More $ Per Year?

[Michigan CG]

just for fun i just ran a search on my MLS for $1,000,000+ residential property sales in the last 12 month.

In my 1.5 counties we have exactly zero sales over a million. There is a current listing for $1,200,000 that has been on the market for almost 6 months.

 

[Eli]

I do many below $100k and they are some of the most complex properties I have ever done.

When you get in low income areas or rural, it's really tough sometimes. Our planning and development makes it tougher too in TN in general. Homogeneous vs heterogeneous. I think I have appraised in 5-7 different states. TN is the most heterogeneous of any place I have appraised.

Even in high income areas, it is so heterogeneous in nature. Uniformity don't exist very much in TN. It's like crazy.

 

[J Grant]

I find some low value properties among the most challenging...in a low $ price range, every adjustment is critical...a 5k adjustment can change the value significantly, whereas in a higher or mid range value you wouldn't even notice it. Add in more odd additions/uses with no permits , flip sales etc...

Which is a bit off topic I guess ....but low $ appraising deserves more respect than it often gets.

 

[Pittsburgh Pete]

I find some low value properties among the most challenging...in a low $ price range, every adjustment is critical...a 5k adjustment can change the value significantly, whereas in a higher or mid range value you wouldn't even notice it. Add in more odd additions/uses with no permits , flip sales etc...

Which is a bit off topic I guess ....but low $ appraising deserves more respect than it often gets.

Generally the same in commercial. The smallest properties tend to be the most annoying to value. Give me a plain, simple, and clean Class A office building with a $5M value any day. There are a variety of reasons for this from the fact that there tends to be a lack of consistency of thought among buyers of small properties and a difficulty in getting reliable info on them. Owners/managers of larger properties tend to be more forthcoming and more knowledgeable.

 

[Elliott]

No way there's $2 billion worth of chicken farms in AR, even if Bill Clinton's used underwear is worth $10.

 

[Mr Rex]

No way there's $2 billion worth of chicken farms in AR, even if Bill Clinton's used underwear is worth $10.

You obviousy have never been to Arkansas. NC had $4 billion annually in poultry and eggs.

 

[Tim The Enchanter]

No way there's $2 billion worth of chicken farms in AR, even if Bill Clinton's used underwear is worth $10.

That's probably 1 counties worth.

 

[Eli]

I love chicken. I eat it every two or three days. $1.99 a lb on chicken breasts (boneless) .Lately as low as $0.35 lb on a 10 lb bag of chicken quarters (leg/thigh).

You can do so much with it. Hard to beat.

With all you can do with it, it don't get old.

I am a meat eater and cooker. Big time. I was on the kitchen shelf watching some southern chefs when I was three.