J Grant
Elite Member
- Joined
- Dec 9, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Florida
A neighborhood in most consensus is the area around subject defined by prominent man made /natural boundaries as well as the area that serves the subject in shops, schools , services.. In a rural area where nearest stores/services are 20 miles away that might be a much larger geo area than a suburban where shops/services are within several miles .
A subdivision or PUD is a legal named /defined community and these communities are located within a neighborhood - though a large, sprawling subdivision can comprise a neighborhood .
Fannie page one asks about neighborhood , vs the MC form which is supposed to address the market area where comps are found. Sometimes a market area and neighborhood are one and the same, other times not. Thus the comps for a subject may be within its neighborhood or outside it. Typically, comps for a subject are found within its own PUD or subdivision, but there are times that does not apply either.
A subdivision or PUD is a legal named /defined community and these communities are located within a neighborhood - though a large, sprawling subdivision can comprise a neighborhood .
Fannie page one asks about neighborhood , vs the MC form which is supposed to address the market area where comps are found. Sometimes a market area and neighborhood are one and the same, other times not. Thus the comps for a subject may be within its neighborhood or outside it. Typically, comps for a subject are found within its own PUD or subdivision, but there are times that does not apply either.