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Correct but this is becoming like Grants Value "V" Sales Price thread its never endingBUT - as long as we call it a CTC, it's perfectly acceptable to perform the above action...
I think that may be part of the reason so many folks prefer doing a CTC rather than a market reaction. CTC takes absolutely no development/analysis at all - just a caveat that you're not a handyman...Correct but this is becoming like Grants Value "V" Sales Price thread its never ending
If THAT is actually YOU then you need to start planning a trip East. It appears as though you could shoot the azzhole out of a rat at a thousand yards "similar to me" and we could have a good afternoon at my "rural range" burning some powder together. You would have to leave your Russian uniform behind however. I get "kinda twitchy" when I see one of those…View attachment 59309
Reviewer to Mike- This is Pit Bull Your Not So Nice Reviewer and you haev 10 minutes to get my cost to cure in that grid or else
No because I am lazy and I am not spending 1 minute trying to extract an UN-extractable adjustment and yes I admit I failed Richard Hangers SRA course on Micro Managing fireplace and patio adjustments. Only Bert can do these scientifically and with precision.
The book teaches it... that's why they do it. It is better support than attempting to find 3 or 4 comps with bathrooms needing overhauled and extracting an adjustment. Oh sure, you can do an "adjustment" just as I can pair the "right" sales and determine the SF adjustment is $3 or $200/SF. The garage adds a negative $10,000. Wrap around porches add $30/SF... on and on. "Paired Sales" is a pretty poor method of making adjustments when you don't have any "paired sales" or you have only 1. One is worse than meaningless. It is misleading. You only use it because it seems "reasonable"???
Exactly! Don't do the work required to produce credible results. Just say, "My opinion of the CTC of this item is $1,000. Caveat: I have no idea what the CTC of this item is, as I'm not a contractor - just a lowly appraiser." Bata bing - bata boom. Problem solved.
All app
All appraisers should be able to make cost to cure adjustments-its called cost books- have contractor friends- many ways to estimate a reasonable cost typically around here a home with a gutted or unfinished kitchens or baths also has other unfinished work and so it cannot be used as a comparable. Its virtually impossible to extract these types of amenities in our market and so we dont. I do know I can update a typical bathroom in my area for between $10,000 to $15,000 on a tract home and on a custom home it may be $25,000 to $35,000.
