Giving value to hot tubs

[appraisalaska]

Does FHA specifically state that a hot tub cannot be valued in an FHA appraisal? I hadn't heard that before, including in my FHA appraisal institute class. If so, does it matter if it's built into a deck, or more permanent than a free standing hot tub?

 

[Michigan CG]

Hot tub = personal property.

If you want to consider the built-in hot tub consider it in the reconciliation. I think anyone who does a quantitative adjustment for something like this needs their head examined.

 

[Mr Rex]

I had a guy offer to give me a hot tub yesterday. He said if his son didn't get the dam thing off his deck this weekend I could have it.

 

[residentialguy]

I gave a hot tub consideration because of the quality of bubbles in it.












Meet Bubbles

 

[Jason Barber]

Hot tub = personal property.

If you want to consider the built-in hot tub consider it in the reconciliation. I think anyone who does a quantitative adjustment for something like this needs their head examined.

I had call the other day from an AMC asking me why there was no adjustment made for an A/G pool that was clearly shown in the subject photo addendum. I told this particular AMC that "I can't believe I forgot to add that". I then re-submitted the report with a negative adjustment for each comparable without an A/G pool. Never heard back from them, however, I was prepared to show my regression analysis indicating negative value for pools in this neighborhood. :icon_mrgreen:

 

[PropertyEconomics]

Appraisalaska .. pardon me for jumping on my soap box and for screaming here ... again I beg your indulgence ...


APPRAISERS DO NOT GIVE VALUE ..... dang it how many times do we have to have this conversation? Market participants determine whether a feature has a contributory value to the property .... NOT THE APPRAISER .......

Thank you for your patience.

 

[EvalueMator]

Oh. I'm sure the market in Alaska warrants an adjustment for a Hot Tub

 

[LI-Appr]

What do you do with Polar Bears? Positive or negative adjustment for view. Res Guys adjustment for Bubbles would definitely be a +.

 

[David Beasley]

Does FHA specifically state that a hot tub cannot be valued in an FHA appraisal? I hadn't heard that before, including in my FHA appraisal institute class. If so, does it matter if it's built into a deck, or more permanent than a free standing hot tub?

Gotta agree with the consensus here. A hot tub is personal property. They're essentially really small, heated, above-ground pools.

To me, their integration into a deck does not affect their personal property status.

 

[residentialguy]

Gotta agree with the consensus here. A hot tub is personal property. They're essentially really small, heated, above-ground pools.

To me, their integration into a deck does not affect their personal property status.

Unless it includes Bubbles. woohoo