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Functional Obsolencense?

ZZGAMAZZ

Senior Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
I think the graveyard puts it in a category of go-no go from a buyers perspective. It will likely have very little, if any, adverse effect on value for part of the buying population. OTOH, there are some buyers that wouldn't buy the property at any discount.

We have the same issue around here. There is a large regional prison (Mike Tyson's temporary residence), a large airport, and a major freeway in the area. All of these externalities are go-no go, a binary choice, for buyers. About 90% of the buyers don't care, the other 10% won't buy near them at all. No effect on value but a slightly reduced pool of buyers. Not enough to affect marketing times, etc.

The issue I see is 'who is responsible for maintenance' and to what extent is the owner obliged to provide access? Personally I wouldn't care about a cemetery on my property but would not want to have to maintain it. As to access, in this state, the owner can't prevent access but they aren't obligated to provide a parking area, an access path, etc. These laws are state specific.

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"binary choice" is an intriguing term. Please advise of the definition, implications, & etymology if you've got time to do so. Regards.
 

Mark K

Senior Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
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"binary choice" is an intriguing term. Please advise of the definition, implications, & etymology if you've got time to do so. Regards.
Binary, as in computer speak. 1 or 0. Go or no go. No middle ground. One or the other. Up or down.

"There are 10 kinds of people in the world. Those that understand binary and those that don't." Old computer nerd joke.


Hint: think Base 2, not Base 10 number system.
 

ZZGAMAZZ

Senior Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
Binary, as in computer speak. 1 or 0. Go or no go. No middle ground. One or the other. Up or down.

"There are 10 kinds of people in the world. Those that understand binary and those that don't." Old computer nerd joke.


Hint: think Base 2, not Base 10 number system.
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I'm so damn old that I remember using an abacus in grade school! But I'll research Binary in the near future. Thanks much!!!!
 

Mark K

Senior Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
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I'm so damn old that I remember using an abacus in grade school! But I'll research Binary in the near future. Thanks much!!!!


Yeah, my first 'real' job involved computers with a 10 Meg hard drive. The drive was the size of a carry-on suitcase and weighed 120 lbs. and cost almost $5K. Aaaahh, the 70's.

Every bit of data sent back and forth on the internet, every computer, etc. runs on a stream of 1' and 0's, binary.
 

ZZGAMAZZ

Senior Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
Yeah, my first 'real' job involved computers with a 10 Meg hard drive. The drive was the size of a carry-on suitcase and weighed 120 lbs. and cost almost $5K.

Every bit of data sent back and forth on the internet, every computer, etc. runs on a stream of 1' and 0's, binary.
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What I think is really crazy is that visual images can be created by typing in letters and numbers (or at least I think that's how digital images get created!)
 

Mark K

Senior Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
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What I think is really crazy is that visual images can be created by typing in letters and numbers (or at least I think that's how digital images get created!)

All of those letters and numbers are converted to 1's and 0's. Lots of 1's and 0's.
 

sputnam

Senior Member
Joined
Apr 24, 2012
Professional Status
Certified General Appraiser
State
North Carolina
It's a market question... not an easy one. It depends on the specifics of the property. Is it 30 acres in total? or is it 1 acre with a cemetary? It matters. If it's a smaller parcel and has a cemetary on it... then it is going to have a big impact on marketability. If it's acreage with a family plot... not so much... however, there are still market reaction to upkeep and visitation rights to be considered.
 
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