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Functional Depreciation

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Em Tee

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
I inspected a property where you have to walk through bedroom #1 to get to bedroom #2, although bedroom #2 also has a sliding glass door to the patio. I'll check with my mentor tomorrow on how to handle this, but I also wanted opinions of you experts on here. Advice?

Thanks!!!
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
functional obsolscence!
 

Mountain Man

Elite Member
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Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Either you have utility problem (functional obsolscence) with a walk through bedroom, or a master suite with a study/computer room. In my market, with retiring boomers, it could go either way.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
A bedroom that has interior access only through another bedroom MAY create functional obsolescence. Generally, the 2nd bedroom is treated as a bedroom, with the first bedroom becomes a sitting room, etc. Then, if the home is a 2 bedroom home or such, then I analyze the functional obsolescence. Sometimes there is no net functional obsolescence for the loss of the bedroom. It all depends on the market reaction to homes with similar bedroom counts, etc.

Roger
 

David Bodtcher

Junior Member
Joined
Oct 18, 2002
Professional Status
Appraiser Trainee
State
Utah
Question,

Is a master retreat given the same consideration as a bedroom: as in overall room count or a different value adjustment?
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
If it'sd only 2 bedrooms, it's almost certainly a functional ob. More than 2, maybe not. The more bedrooms the more likely it can be a sitting room or whatever. How many SF is it? Small for the area? or large? Medium? <_<
 

Em Tee

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
County records say it's 3 bedrooms, 1150 sq ft. Small for the area it's located in, but most homes in that area have 3 bedrooms. One bedroom is unquestionably a bedroom, the other two should maybe be classified as a bedroom and sitting area. One of the two is 12x24, the other (the one you have to walk through) is about 8x10.
 

xmrdfghap

Senior Member
Joined
Jan 15, 2002
Professional Status
General Public
State
Florida
Sounds to me more like a master suite........
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
i.e. 2 bedrooms +
Yeap, that's what I'd lean towards. Would sell just fine in my area. Retired boomers don't want enough room for the kids to come back home! :D
 
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