Cost to install an interior wall

[J Grant]

Marketability is NOT individual. It's a concept based on all the Buyers and Sellers within that market. It's a sort of average. If a dwelling has features that appeal to fewer Buyers, the marketablity is reduced as evidenced by longer marketing time and possibly a lower eventual sales price. It is a sort of bias that Lenders want bathrooms to have walls.... it's a biased based on the fact that most people want some privacy when they do their business. Naturally, in a specific market, that might not be the norm.

Mostly true - amemd it to marketablity is the appeal to most ( typically motivated ) buyers for X type of property. And yes, out of date or odd properties can have lower appeal, which can be reflected in price and or in marketing times. But appraisers are not supposed to go around rearranging properties just to increase marketability! In which case we would make dated properties subject to replacing ugly wall paper and shag carpeting and taking out the hulking built in wet bar.

Unless it is a safety/health issue. Or if a subject to is part of assignment condition. Otherwise we appraise it as is, warts and all, and anlyize any impact the X feature or defect has on value and appeal.

As far as a master bath open to M bedroom, not my preference but who cares. It is mainly seen in high $ houses because 1) might be a trend and 2) some of these high $ bathrooms are gorgeous - works of art, sleek quartz vanities, marble floors, free standing tubs etc - so perhaps it is a way to show that off. Comment on it and move on. Buyers are not stupid and if they want more privacy they can install a curtain, sliding doors or a wall . It might "turn off" a few buyers but if they love the rest of the house, the low cost solution to bath privacy would not deter them.

 

[Doug in NC]

Mostly true - amemd it to marketablity is the appeal to most ( typically motivated ) buyers for X type of property. And yes, out of date or odd properties can have lower appeal, which can be reflected in price and or in marketing times. But appraisers are not supposed to go around rearranging properties just to increase marketability! In which case we would make dated properties subject to replacing ugly wall paper and shag carpeting and taking out the hulking built in wet bar.

Unless it is a safety/health issue. Or if a subject to is part of assignment condition. Otherwise we appraise it as is, warts and all, and anlyize any impact the X feature or defect has on value and appeal.

As far as a master bath open to M bedroom, not my preference but who cares. It is mainly seen in high $ houses because 1) might be a trend and 2) some of these high $ bathrooms are gorgeous - works of art, sleek quartz vanities, marble floors, free standing tubs etc - so perhaps it is a way to show that off. Comment on it and move on. Buyers are not stupid and if they want more privacy they can install a curtain, sliding doors or a wall . It might "turn off" a few buyers but if they love the rest of the house, the low cost solution to bath privacy would not deter them.

This absolutely not a high end home. Apparently it is at the high end of the neighborhood that it is in, but average quality of building materials.

 

[J Grant]

A high end home wannabe - in any event just comment on it and - mention it is a relatively low cost retrofit if a borrower chooses to close it off with a wall though a curtain or sliding door is a lot cheaper... and some buyers may like it or not care...

I personally think it is a dopey trend even in high end homes but whatever - Still don't see it a lot in high $ but have seen it a few times. People run out of ideas how to set a home apart after awhile . I imagine a single person buyer makes no difference, for a couple or family - idk have given up on trying to figure people out!