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Function question.

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Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Appraising an unusal home at the moment. Owner designed floor plan obviously. Several additions to the main house. Main problem is it has a bedroom with no door. 4 steps up the room and just handrails, no walls Large tub is in bedroom in an offset, no door to it either. Anyone walks up the stairs and two steps into the room can see someone in the tub. Rest of the bathroom fixtures are in an actual bathroom with a door. This is an obvious problem.

My question is how do you adjust when you never know if your comps have functional problems? If this house were a comparable sale and I had not seen the inside how would I have known? Realtor would not have listed the problems on the MLS I am sure. Everytime I have a make a function adjustment I am left wondering if I did it right.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol: :lol:

Jeff I have a similar but not nearly as gnarly problem...
I HATE these!

I guess it boils down to "What wold the 'typical' buyer think"
-which begs the question: do buyers THINK? :twisted:

In MY case the county has house listed as 4 bedrooms.
My on-site revealed a two bedrooms on main level, with a stairs from the front door leading to a 'finished attic' consisting of a 'room' on either side of a bath in the middle... such that as you go up the centrally located stairs your view is of the west bath wall....

So given that it is a full flight up, nobody gets caught in thier undies (or worse 8O ) by a causal entrant at the front door, but with no doors on the 'rooms' ... no dorframes were built! The former door at the stairhead has been removed...
Is this a two bedroom, three bedroom or 4 bed house?

I am inclined to call it a three with a 'den' or sitting room... since the missing door at the top of the stairs could be reattached.... :roll:

Then we get into the value problem :evil: which is another issue.
And honestly in that submarket it is about an even bet as to whether a buyer considers this arrangement a 3 or 4 bedroom... Some do some wouldn't! :roll: I think it is kind of like pools in my market: some would buy some wouldn't and the value effect is minimal, the exposure/marketing time may change because of some buyers dismissing the house from consideration....but not the eventual sale :?

Your deal is a little tough: what are market expectations? Try asking around! Did that particular 'self-design' happen anyplace else in local legend/history? Who sells the most hosues in that size range?
........

and in case youa re feeling picked on: mine is a nice mix of excellent quality (recent) exterior remodeling, early 70's garish interior decor, and interior deferred maintainace 'issues' AND located with a 'unique' non-residential front view not precisely replicated anywhere else in town, plus being on a major thorofare frontage :roll: all adding to the confusion) whine, snivel, groan...
 

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Gee..... thanks for the help LeeAnn. :)

I run into jobs like this all the time. My buddy and I just refer to them as "This Weeks Job from Hell". The one you have sounds a lot worse than this one for sure.

My big problem is I don't have market data to make an adjustment. I can and will probably make an adjustment but I just don't have anything to base it on other than Proffesional Opinion. One option is to just dedect the cost of adding a wall and door for privacy. Thats probably the best way to handle it.

No doubt this problem would be frowned on by most of the public. Some folks would see the big tub in the bedroom as romantic I guess. But the lack of privacy is a big issue. Kids waltzing in on your in the tub.......

Oh well, I would still rather do this than go back to work for someone else. :)
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol: :lol:

Jeff:
you had the same take I did on 'functional cureable' in the cost approach... but market :?: :?

Or should you allow a 'double the normal amount of bubble bath' in the budget??? Figure with a heavy enough coat of bubbles mom or dads privacy is insured???
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
Jeff: Check your private messasges for suggested solution.

Austin
 

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Or should you allow a 'double the normal amount of bubble bath' in the budget??? Figure with a heavy enough coat of bubbles mom or dads privacy is insured???

ROFLOL My thoughts exactly.
 
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Jeff,

I can hear the howls of scorn from the gallery already, as they read this answer.

Sometimes, Jeff, there just ain't no science.

What I would likely do in such a circumstance is to call up at least one, or maybe 2-3 real estate sales people whom I have determined by looking through MLS records have listings or have had sales in that neighborhood. I'd talk with one or more of them for a while, and no matter what they'd have to say about it, I'd probably have some inkling about the effect of that problem. I'd cast around for some other ideas. If I found none, I'd force myself to come an opinion, put the number down and say in the comments, "Adjust to comp. #x for bathroom was appraiser's judgment."

You've got to do something with it.

By the way, if Austin gives you a good and practical answer to this question, how about posting it here?


Thomas N. Morgan
Ocala, FL
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
If the problem is that there's no door, Lowe's should install a door for less than $500. If you're worried about the tub in an offset, I've seen this more than once with no appreciable loss in value. Keep the solution simple. Just because you might have a question with it, consider that others might consider the bathtub just off the bedroom romantic.

Roger
 

Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I agree with Tom Morgan and RStrahan. I am sometimes surprised by what the market will accept. I also have found good real estate agents very helpful.

By the way, yesterday I was talking with an agent about a comp I was using. He told me it has a toilet in the kitchen. Very effficient to say the least. Glad I didn't get that assignment.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
I can and will probably make an adjustment but I just don't have anything to base it on other than Proffesional Opinion.

:D That is what AVMs can't do. 8)
 
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