- Jul 13, 2006
- Professional Status
- Certified Residential Appraiser
Working on a refi of a 2 bed/2.5 bath house of 2116 sq.ft. Have no recent sales of this floorplan. The floorplan does include a master retreat, that apparently some owners have converted into a 3rd bedroom. I dont have anything truly comparable in size with 2 bedrooms...and if using 2 bedroom comps that were dissimilar in size, value would be skewed low (because using significantly smaller homes)...It seems to me, the best way to value is with a cost to convert the retreat to a 3rd bedroom, and in that way, have a pool of comparables that are most similar in total living area to the subject. I guess if I were getting precise, I would check to see if ok with HOA, and of course as I would be appraising that which does not exist, it would have to be ok with client...Thoughts?