Indoor Pool Value

[bgillett]

The interesting thing about our pool is that it is that it isn't that expensive to maintain. We heat it with a wood boiler, but it is prepped for Natural Gas, and the chemicals cost are extremely low b/c it is indoors. The savings we get from our Geothermal heating/cooling would pay for using the pool for 9 months out of the year. So for the same costs as a conventional house you could have a house w/ a indoor pool that you could use for 9 months out of the year.

 

[AnonApprsr]

Honestly? A 10,000 adjustment sounds reasonable based on no knowledge of the market area. My reasoning would go: I can't find a matched pair to support this, but it costs 100,000 to replace and I like swimming... 10,000 it is!

 

[Michigan CG]

Are there any other homes with an indoor pool feature in your market area? If not then it may be a feature that may not have much, if any, contributory value, regardless of what it would cost to replace. Cost does not equal market value.

Wrong answer. Lack of sales does not equal little or no value. It only means lack of sales.

 

[Michigan CG]

MLS doesn't have the sq ft listed of the entire basement, just the finished area..........

First of all, look at the post I first replied to. Secondly pull the assessor records and sketch and you will know the basement square footage area.

That is called verifying.

 

[Deleted member 77547]

Wrong answer. Lack of sales does not equal little or no value. It only means lack of sales.

I believe you need to read my post again. Nowhere did I say anything about lack of sales. I asked if homes with indoor pools existed in his market area regardless of whether they had sold or not.

The appraiser who did the report concluded that lack of sales equated to no value. Not me.

 

[Michigan CG]

I believe you need to read my post again. Nowhere did I say anything about lack of sales. I asked if homes with indoor pools existed in his market area regardless of whether they had sold or not.

The appraiser who did the report concluded that lack of sales equated to no value. Not me.

Here is your post. It is not correct. I stand by my post. Am I missing something?

Are there any other homes with an indoor pool feature in your market area? If not then it may be a feature that may not have much, if any, contributory value, regardless of what it would cost to replace. Cost does not equal market value.

 

[residentialguy]

Are there any other homes with an indoor pool feature in your market area? If not then it may be a feature that may not have much, if any, contributory value, regardless of what it would cost to replace. Cost does not equal market value.

Wrong answer. Lack of sales does not equal little or no value. It only means lack of sales.

Here is your post. It is not correct. I stand by my post. Am I missing something?

She just gave out a possibility that the reason there are no pools is because they add nothing...and that is a possibility. I suggest you step away from your post.

First of all, look at the post I first replied to. Secondly pull the assessor records and sketch and you will know the basement square footage area.
That is called verifying.

I get assessor info and numerous other info online. Am I going down to the county and bothering them to look up every comp physical sketch every day....not so much. I do verify with MLS, Co data, other tax data....and physically look at the comp to double check. I'm fine with it and I do a very thorough report. Thanks for your concern.

 

[Deleted member 77547]

Michigan CG,

My post had to do with the concept of the contributory value of a feature within its market. I don't believe I said it did not have contributory value due to lack of sales, hence my use of the terms "if" "may" and "may not" in my post. To expand then, and perhaps clarify, the following is from the Appraisal of Real Estate, which, coincidentally, uses a pool as an example and really, was the point of my post.

"The principal of contribution states that the value of a particular component is measured in terms of its contribution to the value of the whole property, or as the amount that its absence would detract from the value as a whole. The cost of an item does not necessarily equal its value. A swimming pool that costs $10,000 to install does not necessarily increase the value of a residental property by $10,000. Rather, the pool's dollar contribution to value is measured in terms of how valuable its benefit or utility is IN THE MARKET. Its contribution to value MAY BE lower or higher than its costs. "

 

[Michigan CG]

.........Am I going down to the county and bothering them to look up every comp physical sketch every day....not so much.....

Why not have the assessor fax the property card to you?

 

[bgillett]

Related Question - since you all are on the topic - Why do appraisers look at what the assessor has versus what they see? I don't know what my assessor has (I know what the taxable value is, but I don't know the what the drawing looks like), but I am guessing that they don't have the correct drawing b/c I think the previous owners did an addition without any permits. But any, back to the main point, why ask for a drawing of something you just measured?