Heat/cooled Area Attached To Rear Of Detached Garage

[Sid Holderly]

I agree with Michigan & Ohio, these areas are not uncommon, you just do not have many in the sale year in the same area.
Search larger area, search comments for the word office or break room. Searching through agent comments & remarks takes time
but sometimes finds what you are looking for. The amenity fields in the MLS often do not match what might be found in rural areas.
You might be able to add an amenity field to you common search parameters.

 

[hastalavista]

This is a prime example of when an amenity can be handled best in the reconciliation. Here is my advice:

1. Describe the configuration and its utility as MichCG suggests.
2. State that you attempted to match it with the comparable sales, but were unable to do so; state that you will consider its contributory value in the reconciliation.
3. Analyze the subject vs. the comparables as you would do without the amenity. I'd list it in the grid (call it what you want; I'll use "bonus area" for this example) in the grid and put "none" for the comparables.
4. Reconcile your value as you would without regard to the amenity. Assume the adjusted price range is $390k to $415k, and you without regard to the amenity, you'd conclude a logical point-value at $400k.
5. In your reconciliation, explain that analysis... "I gave most consideration to Comparable #1 as it is the most similar in GLA and lot size, and age; I gave secondary consideration to Comaprables #2 and #3; this provided an indicated point-value at $400,000. I then considered the subject's bonus area amenity, which is a positive appeal item not matched by the comparables, and reconciled the final indicated value to $410,000."

Problem solved- good luck!

 

[Mark K]

Agree with Denis.

By the time you search far and wide and back to a distant time, the adjustment for an amenity as minor as the one at issue will most likely be overwhelmed by the comp adjustments for locations, dates of sale, and your more routine adjustments (size,rooms, etc.). That's assuming you can find a similar amenity.

Comps can't always be found for unusual amenities. A qualitative adjustment recommended by Denis is similar to comparisons made by typical buyers and is a reasonable approach.