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Functional Obsolescence or Not?
- Thread starter JoeB
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Mike Kennedy
Elite Member
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- Sep 28, 2003
- Professional Status
- Certified Residential Appraiser
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- New York
Have a sketch?
masmia
Sophomore Member
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- Oct 16, 2007
- Professional Status
- Certified General Appraiser
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- Florida
The market deterimines obsolesence, not the appraiser. What is the market data telling you. Is there a difference in price for 1.5 baths vs 2. Also, how many bedrooms is it. If it's 1 bedroom than it sholdn't be an issue.
No, I see no functional obsolescence. If you have market data to the contrary then that is what you should use. I would look for data to support, or lack thereof, an adjustment between a half bath and a 2nd full bath.
ZZGAMAZZ
Elite Member
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- Jul 23, 2007
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- Certified Residential Appraiser
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- California
Fundamentals (9th ed., pp. 121, 170) describes FA as "...the inadequacy of features in the . . . layout . . . currently desired by purchasers . . . and 'incurable' if it is not easily remedied."
Presuming that the design of a typical unit in this sub-market includes a bathroom that is more readily accesible to others who live in the unit, or those who visit the property, this configuration would appear IMO to reflect incurable functional obsolescence.
Good luck trying to extract the market reaction, because this type of feature rarely if ever would be marketed as such, so comparable data might be scarce.
If it is indeed a 1-bedroom unit, my opinion is moot.
Presuming that the design of a typical unit in this sub-market includes a bathroom that is more readily accesible to others who live in the unit, or those who visit the property, this configuration would appear IMO to reflect incurable functional obsolescence.
Good luck trying to extract the market reaction, because this type of feature rarely if ever would be marketed as such, so comparable data might be scarce.
If it is indeed a 1-bedroom unit, my opinion is moot.
TXCBoy36
Junior Member
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- Oct 3, 2007
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- Colorado
If there was only one bathroom then it could be considered a functional obsolescence, but I do not believe that is the case if you have a 1/2 bath that can be used by whomever is in the property....is it a master bath?
I would have to say not negative.
John
I would have to say not negative.
John
Mary Tiernan
Senior Member
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- Dec 16, 2003
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- Retired Appraiser
- State
- Michigan
My previous house had this issue.
Yes, there was functional obsolescence, when we lived there, and when we sold it. When we bought, there was a bath tub in second bath, under the stairs off living room, you couldn't even put your legs straight. I had tub removed and just had pedestal sink and terlit.
I found some reaction while the house was listed - mind you, this was a traditional styled house on a street with traditional styled houses. Many of the lookers asked the same question, where could they put the second full bath. House had an enclosed porch that was one possibility.
Anyways, when it was time to give kids a bath, and hubby was sleeping just before work, it was trouble. When kids wanted to shower in morning before school and hubby was sleeping, it was trouble.
How can you determine the amount? Good question. You probably won't find another house with the same issue, but why not look for a house with some other obsolescence.
Yes, there was functional obsolescence, when we lived there, and when we sold it. When we bought, there was a bath tub in second bath, under the stairs off living room, you couldn't even put your legs straight. I had tub removed and just had pedestal sink and terlit.
I found some reaction while the house was listed - mind you, this was a traditional styled house on a street with traditional styled houses. Many of the lookers asked the same question, where could they put the second full bath. House had an enclosed porch that was one possibility.
Anyways, when it was time to give kids a bath, and hubby was sleeping just before work, it was trouble. When kids wanted to shower in morning before school and hubby was sleeping, it was trouble.
How can you determine the amount? Good question. You probably won't find another house with the same issue, but why not look for a house with some other obsolescence.
PropertyEconomics
Elite Member
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- Jun 19, 2007
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- Certified General Appraiser
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- New Mexico
Only market sales will show you if there is functional obsolescence or not. No book will do it ... no other appraiser will do it ... GO TO THE MARKET.
With all due respect, your opinion of functional obsolescence means nothing if you dont have the data to support your conclusions. And your conclusions cannot be made without market data support.
With all due respect, your opinion of functional obsolescence means nothing if you dont have the data to support your conclusions. And your conclusions cannot be made without market data support.
Jungle Boy
Senior Member
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- Oct 30, 2002
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- Real Estate Agent or Broker
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- Florida
The first thing to look at is the # of bedrooms.
If there is only one bedroom, there shouldn't be any FO.
If there is only one bedroom, there shouldn't be any FO.
Wayne Tomlinson
Senior Member
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- Jan 25, 2005
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- Certified General Appraiser
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- Illinois
I once had a listing wiith such a situation.
Days on Market, became months and then over a year.
Spent most of the time showing discussing what to do about the bathroom situation,
It is a functional obsolescence situation. It sure will not be found in any MLS printout or other agent provided data, but it is there.
You certainly cannot ignore it.
Maybe describe the "cute" half bath under the stairs? No!!
Wayne Tomlinson
Days on Market, became months and then over a year.
Spent most of the time showing discussing what to do about the bathroom situation,
It is a functional obsolescence situation. It sure will not be found in any MLS printout or other agent provided data, but it is there.
You certainly cannot ignore it.
Maybe describe the "cute" half bath under the stairs? No!!
Wayne Tomlinson
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