- Sep 19, 2006
- Professional Status
- Certified Residential Appraiser
- New Jersey
I have a question. i am looking at 1 level 4 bd flat condominium. Now i usually dont have this problem but there are zero condos sold within the previous 12 months to the effective date in the way of a 4-5 bedroom flat style vs a townhome, however there are 3 bedrooms. Since this is all thats out there my line of thinking was to use the 3 bedrooms versus using the townhouses and make adjustements for GLA and bedroom count. I have seen other appraisers stray from the style a use townhouses in this situation but I personally dont think that would be the best choice. What would you do in this situation? The reason i am specifically stating this is in our MLS when you do a search you check a box for condominium and then there are two sub options for condominium and townhomes.