Cost Approach For Mh

[Tom D]

i think that in an older urban area (not new construction or gentrifying) with no land sales the cost approach is worthless. and if you think it helps there, then you are a dangerous appraiser. i've built houses and rehabed houses and my inner feeling is that the "cost approach" on the 1004 is some "never done construction classroom appraisal theory". i also love it when i have to put a site value when there hasn't been a land sale in 70 years. extraction gets every appraiser in trouble in front of a board if they decide to go there, cause it don't work in these situations. in my opinion assessors only want to protect & keep the current tax structure as is.

 

[CANative]

IMO this forum needs more real appraisers and less Real Estate Appraisers.

 

[Terrel L. Shields]

The problem with the cost approach isn't the approach, rather it is the appraiser who fails to understand it on even a superficial level.