Only if
I'm working on this high end home and due to limited similar sales, I'm working with many comps.
After adjustments, it's a wide range but contract price is within the range.
It's an over improvement in area. Ugh...
However it has great curb appeal. You feel like you own a grand style home looking from the street.
If I needed to buy a home, I wouldn't mind living in the best looking home in the area (oh my, the vanity of Fernando).
Compared to other comps, I like subject's style.
I believed other buyers like it too and that's why they crazily bid up the list price.
There are not enough inventory let alone good looking homes and I can feel buyers' frustration outbidding each other.
It's so difficult to make curb appeal adjustments so I'm not doing it.
Have any of you come across such a problem?
Reviewer To Appraiser : Regarding The Design Appeal and his so called Curb Appeal Adjustment: Upon receiving the review on the property located at
1600 Beverly Hills Drive-A quick lesson they forgot to teach you at Mac-Flintlocks Online Continuing Education School. Below is a 5 minute course on what or what not to do.
The Design and Appeal category considers such aspects of the property as appeal of exterior deign, interior attractiveness and special features. Also included are-any other characteristics which would change the properties appeal to purchasers in general or other-wise alter its marketability . The appraisers to rate the subject property in accordance with eh ratings
IMPROVEMENT ANALYSIS on the Property Description side of the form and to give comparison ratings, as indicated for the preceding items above, for each of the comparable. The appropriate adjustments may only be made the..
Note: To Appraiser:
Appraisers must be careful when making The Design and Appeal adjustment to "reflect" the standards of the market rather than their own
Personal Standards. Translated : No the Red Tesla and Yellow Lamborghini in the driveway and the Trophy -Wiles and Girlfriends laying by the Olympic Sized pool are not part of the analysis.
The exterior design of the residence will often effect the value. -Now Prove it -This is especially true when the design is different from the majority of homes in that market area. This does not mean that the style and type must conform exactly with the rest of the neighborhood. In may area , the-public's taste may have changed and the old principle of uniformity no longer applies as it did in the past. Now in both old and new neighborhoods , Mc Mansions, Colonials European, and Contemporary Styles and even some newer-Neo-Eclectic designs entering the marketplace.
The adjustment has to be carefully extracted based on how the market participants
( IE Buyers ) perceive what the different design and appeal would contribute and what it's overall impact in totality would be.
Example: When Not To Make An-Adjustment : The appraiser falls in love with the property, he imagines driving up and into the six car garage in his new Red-Tesla with his 25 year old mistress hanging on his arm. They go into the back yard and that Olympic sized custom pool has water falls and slides and there is a $35,000 out door pizza oven and a fully stocked wet bar. In his mind he thinks if I can only score some big money this could be me and I would love to live here. Hard Stop because once you get back into Realville which will happen after you get home and when you pull up to that place you call a house with the nagging wife and spoiled kids and you will quickly leave the Twilight Zone and be back living the lowly life of an-appraiser. Maribel-I love this bad-boy what do you think ? Well I think its ugly and looks like something a man would choose to live in-- Gee maybe I should back out that design-appeal adjustment-Marible- Ya Think : ) 
