Joyce Potts
Elite Member
- Joined
- Feb 6, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Florida
http://www.mercedes-extreme.com/gallery/
http://www.mercedes-extreme.com/
I was contacted today by an out-of-state lender wanting me to appraise a home that was the subject of the ABC TV series, Extreme Makeover.
No one loves a challenge better than myself, but I really think this is asking for trouble on multiple levels.
The main house comprises apx 5,500 sf of GLA and was built in 3 days by Mercedes Homes in conjunction with Ty Pennington and the gang at ABC TV and countless volunteers. In fact, one of my sons was worked on this project with the crew doing the hurricane shutters.
A portion of the structure houses a non-profit community organization. So zoning and caveating that one will be a barrel of fun.
Hold on, it gets better.
This newly built 5,500 sf home is primarily surrounded by an area having a much lower predominant value in the $150,000 - $200,000 range.
Did I mention the unsightly view of the rear of commercial buildings along SR 436 directly across the street to the SW? And lets not forget the traffic noise one block from a major roadway and active RR tracks within a few blocks.
There is no way any appraisal of this property would even come close to meeting any underwriting guidelines. But the irony is, per the tax rolls, Countrywide already holds a mortgage on it.
Any thoughts on this?
http://www.mercedes-extreme.com/
I was contacted today by an out-of-state lender wanting me to appraise a home that was the subject of the ABC TV series, Extreme Makeover.
No one loves a challenge better than myself, but I really think this is asking for trouble on multiple levels.
The main house comprises apx 5,500 sf of GLA and was built in 3 days by Mercedes Homes in conjunction with Ty Pennington and the gang at ABC TV and countless volunteers. In fact, one of my sons was worked on this project with the crew doing the hurricane shutters.
A portion of the structure houses a non-profit community organization. So zoning and caveating that one will be a barrel of fun.
Hold on, it gets better.
This newly built 5,500 sf home is primarily surrounded by an area having a much lower predominant value in the $150,000 - $200,000 range.
Did I mention the unsightly view of the rear of commercial buildings along SR 436 directly across the street to the SW? And lets not forget the traffic noise one block from a major roadway and active RR tracks within a few blocks.
There is no way any appraisal of this property would even come close to meeting any underwriting guidelines. But the irony is, per the tax rolls, Countrywide already holds a mortgage on it.
Any thoughts on this?
