• 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.

I love a Challenge Dee Dee

Status
Not open for further replies.

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
This one sounds like something you would get Dee Dee.

Just went to inspect a house, owner wants to sell and wants an appriasal to know how to price it. Drove up and its an nice looking typical ranch on a beautiful lake front lot. Its in a very small subdivision with small lots and few if any sales. Borders a commerecial area on the highway.

After I started to measure (before I went inside) I started to get concerned. The more I looked the more I was sure this was a TROUSE as Mr. Bucks calls them. Interior inspection revealed it was. Of course it has an addition that is bigger than the original part. The kitchens and bath have be redone and updated. While over all it is a bit dated but it was immaculate inside and out. Went outside to get photos and find the solar panels on the roof. The lot is exceptional large at the Lake frontage side and with a beautiful view.

All this is a one of the few lake front areas that is not that desirable. Few homes and even fewer sales. Commercial property and right next to a busy highway.

Man I love a challenge. :roll:
 

Caterina Platt

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
Well Jeff,

Your saving grace is that it isn't for a refi and you don't have to stay within stringent, often ridiculous in these situations, guidelines. Exceed distance guidelines, use an old sale, marvel at your ability to make 60% total adjustments. Live it up! :lol: Aren't we masochistic sometimes?
 

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Thats funny Caterina!! Of course I would have just used the totally out of line comps with old sales dates, to far away and all the other stuff anyway. Like most appriasers on here I save my best comps for when the Underwritter asks for them HAHA
 

Caterina Platt

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
Yup, of course I can't use my good comps unless I'm really forced to. I'd wear them out, you know. :lol:
 

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
LOL I love it!! I will remember that line for the next UW that asks for new comps. I love it!! Dont want to wear them out. :lol:
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Guidelines? What guidelines? :roll:

Just finished one for a refi where comp #1 is 8 months ago, 3 miles, $45,000 site adjustment and net of 12.4%, gross 29.4%. Comp #2 is .3 mile, 2 years ago, $100,000 site adjustment and net of 32.8%, gross of 45.7%. Comp #3 is 11 months ago, 15.3 miles proximity, $45,000 site adustment, total net of $23.2 and total gross of 35.2%.

If they want #4 it's over 22 miles and 13 months ago.

Th...th...th...that's all folks! :p
 

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Now Pamela, we KNOW you are holding back those good comps!! Come on, just fess up! :mrgreen:
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Jeff,
Sounds like fun! :?
Maybe you should just give him a low offer and buy the place. Let someone else worry about the appraisal. :lol:
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
I think we may all be alike. We save our really good comparables for special occasions!
 
Status
Not open for further replies.
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