• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

half inground pool

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
funny cause 5k was about the value I have in mind
Instead of making an adjustment you cannot support how about using your reconciliation.
 

J Grant

Thread Starter
Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Instead of making an adjustment you cannot support how about using your reconciliation.
that is a possibility as well. I will work on the report tomorrow and might find support for it as similar to inground spas -will see it is on the agenda...always something weird at a property it seems
 

Russ Kitzberger

Junior Member
Gold Supporting Member
Joined
Jul 3, 2007
Professional Status
Certified General Appraiser
State
Ohio
If this is a lending assignment, would depend on your jurisdiction. In Ohio might be considered real property in a market transfer, as the intention was to affix the personal property in a manner that was as permanent as the longevity/physical life of the property affixed and "IF" at the time of sale, the seller removed the pool, it would result in undesirable site conditions as there would be a hole in the ground and a deck to nowhere.
 

J Grant

Thread Starter
Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
If this is a lending assignment, would depend on your jurisdiction. In Ohio might be considered real property in a market transfer, as the intention was to affix the personal property in a manner that was as permanent as the longevity/physical life of the property affixed and "IF" at the time of sale, the seller removed the pool, it would result in undesirable site conditions as there would be a hole in the ground and a deck to nowhere.
It is affixed at this point due to elaborate patio and decking built around it. I doubt the pool could be removed without damaging it. That said, even though affixed , it is of much lower quality than a "real" inground pool and likely to rust or corrode at some point, though the new owners can enjoy it till that happens

All will be disclosed on report - of course the whole property is a f** nightmare, a second kitchen, very over improved though small, and the purchase price though I am not finished will likely be way over the OMV ...another fun day...
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Current age of the pool?
 

J Grant

Thread Starter
Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Current age of the pool?
10 years. I found one comp with a similar buried above ground pool, turns out that was the easy part of this nightmare assignment which I just finished and turned in ! Goodby horrid report which took 12 hours out of my life
 

Peter LeQuire

Elite Member
Joined
Jan 3, 2005
Professional Status
Retired Appraiser
State
Tennessee
When I was working, I don't recall ever finding significant value in AG pool installations - an AG pool in a hole is still an AG pool. I can't imagine the headache involved with maintaining such an installation.
 

Dean

Senior Member
Joined
Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
Tennessee
funny cause 5k was about the value I have in mind - more about the pretty patio and decking built around it and utility of a nice pool to enjoy till it rots out...could be years idk but not equal to a genuine inground pool
Not to be rude, but where is this 5k coming from? The market is telling you a 5k adjustment is warranted? I just dont see it. It sounds like a pulled out of think air adjustment
 

J Grant

Thread Starter
Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Not to be rude, but where is this 5k coming from? The market is telling you a 5k adjustment is warranted? I just dont see it. It sounds like a pulled out of think air adjustment
The market did indicate a 5k adjustment since I Found a comp with a similar AB pool- most of the adjustment due to the elaborate patio and decking to accommodate it rather than the pool itself -
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Even worse then the possible comp I was looking at. Listing said pool, but reading the comments it said mini pool.
Other comments said it was a converted fish pond, and more like a wading pool.
No permits for a pool. :leeann:
 
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks