Geodome Type Home

[Baldguy]

I am reaching out to see if anyone has done an appraisal on a geodome type home? What other style of homes were considered for comps if there no other similar type of homes available.

 

[Sid Holderly]

In this area, they are kits with the homeowner building their own interior walls. They are hard to measure for living area with varying exterior wall slope from 0 to 60 degrees. I have used modular and standard stick built since you generally do not have a single GEO comp in the last three or more years.

 

[Carnivore]

Yes, i have and there are not many like that in my market. I suggest you really look hard and far for at least on sale 1. similar in design. 2. Go back in time 3. Don't concern yourself with distance. 4. Look for other uncommon designs also in your market. weird is weird, there is just different kinds of weird 5.Obviously this is in low demand by majority of buyers. 6. Explaining is the least of your problems.

Good Luck! Considering the current demand for appraisals your lucky to have this assignment.

 

[KHS445]

I agree with weird (for your particular market) is weird. Look at solar, earth, straw bales, rustic log (non-commercial logs), one bedroom, etc. While not the best method but you will not have market supported adjustment, so you could consider looking at the difference in construction costs between your subject and the comparable and then apply a physial depreciation figure in order to arrive at your final adjustment. If your comps are as odd for your market as the subject, a functional adjustment may not be necessary.

Just explain everything in the report. The level and breath of your research. What the research disclosed. Why you picked to comps you did. How and why you made the adjustments you did, etc. I find if you can provide information in your report as to how and why you did what you did generally the client will understand that you made every attempt to find the best comps out there. And your adjustments are based on a reasonable theory. While they may not always agree with your final estimate of value, if you can get them to understand and at least in part agree with your methodology they really have to accept the final estimate.

 

[Baldguy]

Thanks for your input! i really appreciate it!

 

[Raven59]

I've completed work on a couple earth homes and a few geodesic domes. One geodome was actually a complex of four connected by outside walkways that was designed to function as one. All but one of these properties was located in a rural area or was a second home near a ski resort. What is your setting like? There is a section in Marshall & Swift dealing with this type construction. I'm sure somebody looking at this unique type structure would consider the cost to construct. All the properties I worked on sold once or twice over 10-15 year period, so people do buy them. Marketing time was 3-5 times the norm and there was some difficulty obtaining financing.

 

[Elliott]

Octogon, Hexagon, and Geodesic are unique unto themselves. The best comparables are just basic, simple ranches. The market isn't going to pay a premium. The kitchen cabinets fit poorly on Geodesic.

 

[Michigan CG]

I strongly suggest buying the AI book "Appraising the Tough Ones".

Hope your fee has four digits.

 

[RSW]

It may be necessary for the OP to use other types or styles of homes due to the lack of Geodome homes. I would look for unique style homes which are a-typical for the area. I once had to appraise a property that only had a large 3 car garage with a 700 sq. ft. apartment above it. I got advice on the AF as to what it should be called. I ended up using a sale of a property with a barn that had a small apartment on the upper level. It was actually a very good comparable sale.

 

[glenn walker]

I have done a few over the years- In theory you can extend your radius - go back in time BUT in reality it's rare to even find one geodesic comparable. The quality of construction is often cheap and the design makes it difficult to fit normal furniture and appliances in. If this is in a mountainous area or recreational area the most similar for lack of quality and weird floor plan is the A-Frames with lofts. Manufactured are more similar in cost to build although a good manufactured is actually superior.as far as buyer action they can be difficult to sell due to lack of financing and some lenders wont do them.

In your final reconciliation make sure you clearly state that you have provided everything available because most lenders simply don't know what to do with these and the weirdos that own them always believe they are worth more than regular houses. A good comment in your reconciliation can be used like:

Sample Comment: Alter and change to fit your Subject;

1- A geodesic dome is "Atypical" of most of the houses in this neighborhood and general market area and it's floor plan and layout results in less unusable space-Therefore it does suffer from some additional functional obsolescence when compared to traditional designs and floor plans. This also had some negative effect on it's value when compared to tradition designed homes. The appraiser also consulted with some of the local brokers and agents and their opinions were future sale and marketability of this type of property property would normally require substantially longer exposure time in order to successfully find a buyer who appreciates the Geodesic-Domes Design and Unique Floor Plan. ** Note: These can be difficult to measure but there are some good free online calculators on Dome Home sites on Google.