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Effective Age

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Phil Rice

Member
Joined
Apr 22, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I completed a report today:

Year Built (per assessor records) 1650, actual age 352 yrs (how many of you would have said 353?)
Effective age (per me) 10 Yrs (5 yrs was my other choice)
Appraised Value: $700,000

This is an Antique Colonial property in very nice condition. Current owners bought it 3 years ago for $370 and then immediately did a $300 renovation.

I get 1 like this every 6 to 8 weeks, they are not that uncommon.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I'm impressed! Nothing like that around here.
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Cool. B)

I rarely see anything 100 years old or older. There's just not all that many of them. And 350! I a little amazed the assessor has records that old. Nothing even remotely close to that old here. :mrgreen:
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
We have a few per-civil war homes, but nothing that old. :eek:
For pre-1900, our assesors office has them listed as "over 100". To learn the true age of a really old building, you have dig, look up housing styles of the period, and spend some time with the town elders. Really interesting stories :) ...........but not a profitable job. :D
 

Tater Salad

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Missouri
I haven't seen anything that old around here. And if I ever did, I'd run the other way. So, what is the TEL of a dwelling like that? 400? :eyecrazy:
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
So, what is the TEL of a dwelling like that? 400?

They've got considerably older in Europe, I believe. If maintained and updated could it not be indefinite total economic life? I mean it's not some mfg cracker box they'll live in until it wears out, then recycle it with the old beer cans. :D
 

Tater Salad

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Missouri
Oh, I can hear the underwriter now...

If I get past tech support at alacamode, trying to figure out how to put "infinity" in the cost approach :D

disclaimer: I love alacamode
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
trying to figure out how to put "infinity" in the cost approach

:lol: It's that sideways 8 thing. Try the character map in Word. :lol:

What's the word? Not "fuzzy math". Oh! Imaginary numbers! :lol:
I seem to remember learning something about these in college,
but I guess the title "imaginary numbers" is about it for my memory. :unsure: Or so I imagine. :p

Just don't try to divide by Zero. Don't ask why. Just Because. Error! B)
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
I clearly recall being humbled when I came back east for the first time (being a west coast kid) and seeing homes and buildings several hundred years old... I mean in California 'history' MOSTLY started in the 18th Century at the earliest! not a typo, the Spaniards built some pretty long lasting structurel stuff before the Gold Rush... that was what previously defined 'old' (for me).

I even more clearly recall the feeling I got when going to Japan for the fist time and identifying stuctures which were well over a millenium in age. :huh: and thinking of the history classes I HADn't slept through... and what was happening in the world... and felt very very small and at the same time oddly connected to the rest of the human race in a way I had not been before....

WOW.

cosmic.
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
You say your assessors records dont go back that far. Duh, every decent broker knows alls ya gotta do is look under the toilet tank lid. The date stamped there is the day the house was built.
 
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