How Do You Define "Multi-Family?"

[timd354]

Timd, you are correct, sort of....you have to remember that there are many types of assignments and many factors that determine value. You are limiting your scope of assignments to Forms. Not all appraisers fill out forms, and if you are referring to the common appraisal forms then you are technically correct.

However, there is a distinct disfavor for any 2-4 unit properties in certain neighborhoods. If you throw in mixed properties in a subdivision with single-family homes, duplexes and 3-4 unit properties it is only a matter of time before the multi-unit properties bring the neighborhood down. it is proven time and time again.

Therefore, I will stand with Mr. Klahr, that my, and his definition of multi-family properties is any property containing more than one unit.

We are not all form fillers, and additionally, if a neighborhood has multi-family housing, there will be differences in housing prices in many markets vs. neighborhoods with no multi-family properties.

Timothy,

Apparently you do not know (sorry I just had to say that...lol) that the OP refers to this section of the URAR, so this whole thread is specifically addressed to filling out that particular form. Thus, I am not limiting my scope of assignments to forms or anything else, rather I am limiting my comments and answers to comments and answers which are on point.

Additionally, Mr. Klahr's incorrect answer is specifically addressed to the form....here is his answer again, just so there is no confusion as to exactly
what my post was addressing (taken verbatim from post #16):

You are incorrect. If you take any of the courses on how to fill out the form you wil learn that they are not asking land use from the planning and zoning perspective but rather are more interested in defining the residential market in terms of competing properties.

By the way a co-op or a condominium would both be "one unit" housing in regards to what is being asked on the form.



I do not know what I do not know, but I know what you do not know (at least in this case).

 

[Michigan CG]

touche, Mr. D,

you have me there. Just remember that not all appraisals are created the same.

 

[timd354]

touche, Mr. D,

you have me there. Just remember that not all appraisals are created the same.

You are a good man to admit that I got you on this one. Just so you know, I have read many of your posts and highly respect your knowledge and insights that you have expressed on this board.