Effective Age

[RCA]

Providing an effective age of a stick built home within the body of an appraisal report in most states is not brain surgery.

Yet some people on this forum insist that it is.

smh.

Well, that's a loose statement if I have ever come across one. "Providing an effective age" per se can be done by pulling a number out of a hat between 0 and 20. Is that all you do? Hmmmm.

Actually in fact, in many if not most cases effective age doesn't mean that much. This is particularly true of older homes that have gone through many partial updates. And we all know if you put the effective age at over 25 years, you do start to get push back by the AMCs and lenders. So, there are many homes we can be sure where this value is inaccurate, to say the least. There are more issues you can throw at this issue than can be listed here. For example, you wouldn't get close to a good estimate without a good thorough home inspection by a qualified home and termite inspector that appraisers virtually never do. Even home and termite inspectors can't see every detail and defect. Some are very good, some OK, and some atrocious.

At its best, effective age is only a very approximate guess as to what maintenance is going to look like for the next 30 years for a 70-year-old post-World War II home.

It is not brain surgery, because there is no specific protocol with tight definitions and methods that will work in all cases. Anybody who claims that it is brain surgery for all homes doesn't know what they are talking about.

 

[RCA]

I ALMOST fell out of my chair laughing.

I don't know what the hell is frigging funny about it.

My grandfather also named "William Bert Craytor" was a road engineer, who had my dad and his two brothers in his third marriage. His mom died when she gave birth to his younger brother and their father died at the age of 65 when they were boys. No one knew they existed on the farm - where they lived supporting themselves for one year - before an Oregon newspaper found out about them and published a story. They were then adopted by two good families in Eugene. All three eventually went into the military - my dad and his older brother just prior to World War II. My dad was at Pearl Harbor when it was bombed by the Japanese. He was on the USS Tangier: https://en.wikipedia.org/wiki/USS_Tangier_(AV-8)

But don't feel bad. I have never liked British culture that much. I have always had a certain disdain for their pompous behavior and class mentality. Of course, there are some level-headed Brits I make an exception to.

 

[Terrel L. Shields]

They may take their sweet old time doing it and dump maybet $1.5M into the remodeling.

The first thing is to make sure the foundation is good then determine if it has termites or not.

The owner has to stay on top of maintenance.

Which is why the movie "Money Pit" was so funny...it was so true. The bottom line, these are like high class women, they are not cheap keepers.

whether a 120 year old home could have an effective age of 0

I personally have never seen that... I have seen historic homes that appear to have some blue sky value - due to their historical nature- thus is extremely hard to quantify especially in a place where they are not commonly found.

This house is a sort of mixed building now, but it started as a home of a wealthy banker, then a doctor who made it into a small hospital, then the bank next door (also historical register) bought it and had it used as an apartment, then it sold and was made into commercial suites, then had a fire and the owner rebuilt it (he was a contractor-developer who specialized in restorations- sadly, he died last year rather young. His wife was partner and also a Realtor well known in the area.) Built 120 years or so ago.

 

[RCA]

The first thing is to make sure the foundation is good then determine if it has termites or not.

Which is why the movie "Money Pit" was so funny...it was so true. The bottom line, these are like high class women, they are not cheap keepers.

I personally have never seen that... I have seen historic homes that appear to have some blue sky value - due to their historical nature- thus is extremely hard to quantify especially in a place where they are not commonly found.

This house is a sort of mixed building now, but it started as a home of a wealthy banker, then a doctor who made it into a small hospital, then the bank next door (also historical register) bought it and had it used as an apartment, then it sold and was made into commercial suites, then had a fire and the owner rebuilt it (he was a contractor-developer who specialized in restorations- sadly, he died last year rather young. His wife was partner and also a Realtor well known in the area.) Built 120 years or so ago.
View attachment 58395

This house is actually somewhat similar in design to the one I am talking about. But the one I did is larger and in a far different class. The architecture and exterior would be much cleaner and upgraded. On the attic floor you would have skylights and balconies. A far more complex exterior on all sides. In fact you really can't see the complete complexity without drone photos - which I took. It would be in Berkeley not far from the UC Berkeley campus. A techie house - and the architect had his studio up on the attic floor. The interior remodeling was remarkably solid and clean.

 

[Tru Red]

I don't know what the hell is frigging funny about it.

My grandfather also named "William Bert Craytor" was a road engineer, who had my dad and his two brothers in his third marriage. His mom died when she gave birth to his younger brother and their father died at the age of 65 when they were boys. No one knew they existed on the farm - where they lived supporting themselves for one year - before an Oregon newspaper found out about them and published a story. They were then adopted by two good families in Eugene. All three eventually went into the military - my dad and his older brother just prior to World War II. My dad was at Pearl Harbor when it was bombed by the Japanese. He was on the USS Tangier: https://en.wikipedia.org/wiki/USS_Tangier_(AV-8)

But don't feel bad. I have never liked British culture that much. I have always had a certain disdain for their pompous behavior and class mentality. Of course, there are some level-headed Brits I make an exception to.

Bert....I love reading all your BS on this forum At the end of the day many of us feel sorry for people like you. You're clearly a massive underachiever in your own life. You show your drone pilot license. I hold an Airline Transport Pilot License with commercial privileges but I don't list it here. You put all of your licenses and certs like SRA, CGREA, etc. I have a JD degree but don't list it. I've had a broker license since the early 1990's. So what? My father was on a submarine that left Pearl Harbor several days before it was bombed. So what. Surprised you don't add your fathers Peral Harbor experience to your own personal list of acheievments. I retired from the California Highway Patrol in 2012. So what? I don't list that either.

You are one of those people that if you ask what colour is a white wall....you would not say white....you'd spout off 30 pages of nonsensical gibberish to make you feel superior to all of the other appraisers on this forum.

I LOVE reading your replys and hope you never stop. Just realise some of us can see right through you.

Cheers.

 

[andrew81]

I have always had a certain disdain for their pompous behavior and class mentality.

Talk about contradictions

 

[RCA]

Bert....I love reading all your BS on this forum At the end of the day many of us feel sorry for people like you. You're clearly a massive underachiever in your own life. You show your drone pilot license. I hold an Airline Transport Pilot License with commercial privileges but I don't list it here. You put all of your licenses and certs like SRA, CGREA, etc. I have a JD degree but don't list it. I've had a broker license since the early 1990's. So what? My father was on a submarine that left Pearl Harbor several days before it was bombed. So what. Surprised you don't add your fathers Peral Harbor experience to your own personal list of acheievments. I retired from the California Highway Patrol in 2012. So what? I don't list that either.

You are one of those people that if you ask what colour is a white wall....you would not say white....you'd spout off 30 pages of nonsensical gibberish to make you feel superior to all of the other appraisers on this forum.

I LOVE reading your replys and hope you never stop. Just realise some of us can see right through you.

Cheers.

Well there we go, I have you bragging about yourself. That's all interesting. If I wanted to get a JD degree, I could have ... and if I wanted to get a pilot license I could have and so on. Many people can do all of these things. One might argue it is or isn't relevant, but it is indeed interesting to see what appraisers can do.

If you have a California Real Estate Broker's License, a Certified General Real Estate Appraiser license and are an SRA, then that makes you a rare bird. Last time I checked there was only one in my county - me.

If you also have about 30 years under your belt as a software engineer, a degree in mathematics, 5 years in international accounting, ... there may however only be a few in the world.

Whatever you say, you are clearly ... probably ... just about what you say you are. I always like to let people say what they are. They are the best experts on what they are. How good they are at what they are, - well that is often a different story.

The JD and a career in the CHP does fit together. I do not think you belong in appraisal, but could say the same of many appraisers. You need more math and data mining and probably more. My opinion only of course.

Thus of course, you are going to be antagonistic, as I am sure many other members are.

But, Mr. JD/CHP, I think you know how wrong your are. You should be that smart.

You can't do in appraisal what I can. But I can guarantee, I can do what you can. .. But of course you are working way outside your career profession. ... If I am wrong on this issue I'd like to know. For me, my entire career experience fits together very nicely with appraisal, even the accounting - for commercial appraisal. That is precisely why I am doing this in retirement. I really enjoy it. Decimation.

 

[Dublin ohio]

Well there we go, I have you bragging about yourself. That's all interesting. If I wanted to get a JD degree, I could have ... and if I wanted to get a pilot license I could have and so on. Many people can do all of these things. One might argue it is or isn't relevant, but it is indeed interesting to see what appraisers can do.

If you have a California Real Estate Broker's License, a Certified General Real Estate Appraiser license and are an SRA, then that makes you a rare bird. Last time I checked there was only one in my county - me.

If you also have about 30 years under your belt as a software engineer, a degree in mathematics, 5 years in international accounting, ... there may however only be a few in the world.

Whatever you say, you are clearly ... probably ... just about what you say you are. I always like to let people say what they are. They are the best experts on what they are. How good they are at what they are, - well that is often a different story.

The JD and a career in the CHP does fit together. I do not think you belong in appraisal, but could say the same of many appraisers. You need more math and data mining and probably more. My opinion only of course.

Thus of course, you are going to be antagonistic, as I am sure many other members are.

But, Mr. JD/CHP, I think you know how wrong your are. You should be that smart.

You can't do in appraisal what I can. But I can guarantee, I can do what you can. .. But of course you are working way outside your career profession. ... If I am wrong on this issue I'd like to know. For me, my entire career experience fits together very nicely with appraisal, even the accounting - for commercial appraisal. That is precisely why I am doing this in retirement. I really enjoy it. Decimation.

 

[sputnam]

I used to know a mortgage broker who knew more than appraisers too. She once told a colleague, "I'm an appraiser too. I have a Marshall & Swift's".

 

[RCA]

I used to know a mortgage broker who knew more than appraisers too. She once told a colleague, "I'm an appraiser too. I have a Marshall & Swift's".

A good example of not knowing what you don't know.