Guidance Please

[Terry L. Hart]

Thanks to all contributors.

 

[Bobby Bucks]

Good advice on this thread. Time and distance. Sometimes comparables come from 2 or more counties. I just finished one similar to the one you described and am working another with the same lack of close, recent sales. I will also use as a listing or additional sale a property that is on a lake or river (not the East River) with appropriate view adjustments just to satisfy the AMC reviewer Nazis with their fetish for bracketing, I simply add little or no weight was given that particular comparable.
I do occasionally accept AMC work, my apologies to Tim Hicks for still being a pathetic, slovenly appraiser who must still occasionally cow tow to them. Another hint with rural properties, I always check to see if any manufactured homes sold within the radius used because agents do occasionally check the incorrect boxes. I almost missed a nearby comp on a rural one which was highly similar because the agent listed it as manufactured.

 

[Mark K]

I have accepted an assignment on a 745 sf dwelling on 1 acre in a rural setting. Within 25 miles over the past 730 days there have been 0 comparable sales of dwellings nearing this size. There are 5 with sf of 850-960 but located in what this appraiser deems as not comparable areas. I am seeking suggestions from my peers. Thoughts?

If you don't have good comps, tell a good story. Advice given to me by a highly qualified reviewer/mentor, may he RIP.

Use what you have available; you can't always bracket.

 

[Fernando]

Why did you accept this assignment?
Were you aware of the lack of comps? Hope you charged a very high fee to be competent in area.
Unless I'm familiar with the area, I would not have taken the assignment.
Good Luck.