Definition Of Corner Lot

[George A Easton]

sounds very elementary, but is "corner lot" only true if it's at the intersection of two streets? what about a dead-end street lot where there's no neighbor to one side- that's not a cul-de sac. or what about a lot on a street where one side or even the back and side are up against a park? i mean i know how to describe the lot location and all that, but is "corner lot" only for the ones on the intersection of two streets? what about an alley on one side? is that a corner lot? what if it's a private alley?

 

[hastalavista]

I've never seen a "comprehensive" definition of "corner lot" for appraising (maybe one will pop up here?).

The alley site, I'll call a corner.
The "finger cul-de-sac" where the subject is at the point where the street usually "turns" into a small (5-10 home site) cul-de-sac, I'll call a corner.

Whenever it is not the standard "intersection" scenario, I'll describe the location and then add a "therefore, I have indicated the subject being a corner lot location on page one" in the addendum.

But, on the new 1004 form, didn't they eliminate "corner" from the location check box?

 

[Richard Carlsen]

Don't make it hard George.

Corner Lot: A lot abutting upon the intersection of two intersecting streets. (Real Estate Appraisal Terminology; AIREA/SREA 1975)

Streets only and not alleys and not courts or anything else. Must be two streets that intersect.

All else is flummery.

 

[Stone]

Originally posted by Denis DeSaix@Oct 16 2005, 04:30 PM
But, on the new 1004 form, didn't they eliminate "corner" from the location check box?

Yes

 

[Don Clark]

B) It was eliminated as many appraisers rightly or wrongly believed it had an added value since it was on a corner. Only in the minds of a new home builder is that generally true.

 

[DTB]

Originally posted by Don Clark@Oct 17 2005, 07:29 AM
B) It was eliminated as many appraisers rightly or wrongly believed it had an added value since it was on a corner. Only in the minds of a new home builder is that generally true.

And in the mind of those buyers as well. B)

 

[Otis Key]

And in the mind of those buyers as well. B)

Until you educate them that they are being double taxed for that corner lot. Sidewalks, paving, curbs, etc., don't just grow there for FREE!

 

[DTB]

You have to pay to play if you want that 50' buffer zone on the one side and access to the garage from the street as opposed to from the alley. B)

We're talking cigarette money on the tax issue.

 

[Bobby Bucks]

I've been making adjustments of 15 K for years...was I in the wrong? It was on that list they gave me in the sweat shop.

 

[Smokey Bear]

Twice the traffic noise and 40% higher risk of being burglarized. I live on a corner with a stop sign and it is very noisy. People hate the stop sign and like to "peal out" in protest. Twice the boom boom boom from the under 25 male crowd, more trash, gee, what else?