Is Obsolesence Absolute or Relative?

[ZZGAMAZZ]

The SFR 1-story ranch-style older subject does not have double-hung door interior garage access.

Subjectively it's a PIA IMO that poses a measure of functional depreciation.

Seeking to report facts objectively, I'm wondering whether the neighbohood garage-access standard determines whether it is a functional superinadequacy.

Thank you.

 

[Surf Cat]

First off, I've never heard the term functional superinadequacy.

Moving on....Are you saying there's no direct access to the garage from the dwelling? Or no access at all to the garage (a door on the side by the walkway up to the front door) with the exception of the main garage door?

Either or, it's going to be extremely difficult to determine a market reaction for the accessibility to the garage.

The main thing though, it has a garage. If it functions as its intended use..... as a garage....then you could just state within the report that it has no direct access from the dwelling to the garage and you were unable to determine a market reaction for said lack of Ingress, egress.

Another thing you could do, is look at the subject's prior sale, and look at comparables back then to see if there was a market reaction to said lack of entrance to the garage from the house.

I believe you're going too far down a rabbit hole for such a minor thing in the overall valuation..... you're not getting paid enough for this. Comps in the immediate neighborhood, single level Ranch Construction of similar age with equal garage spaces, bracket the GLA, move on.

 

[ZZGAMAZZ]

First off, I've never heard the term functional superinadequacy.

Moving on....Are you saying there's no direct access to the garage from the dwelling? Or no access at all to the garage (a door on the side by the walkway up to the front door) with the exception of the main garage door?

Either or, it's going to be extremely difficult to determine a market reaction for the accessibility to the garage.

The main thing though, it has a garage. If it functions as its intended use..... as a garage....then you could just state within the report that it has no direct access from the dwelling to the garage and you were unable to determine a market reaction for said lack of Ingress, egress.

Another thing you could do, is look at the subject's prior sale, and look at comparables back then to see if there was a market reaction to said lack of entrance to the garage from the house.

I believe you're going too far down a rabbit hole for such a minor thing in the overall valuation..... you're not getting paid enough for this. Comps in the immediate neighborhood, single level Ranch Construction of similar age with equal garage spaces, bracket the GLA, move on.

1) Unsure whether it's a personal peeve or whether it poses a legitmate constraint to a typical market participant. 2) seems that various aspects integral to the CA are often intriging, or confusing. 3) obviously no legical, efficient way to determine an answer because that database sure doesn't exist. 4) Thanks for your perspective...

 

[Tom D]

Minutia rabbit hole. You must be a worrier.

 

[J Grant]

It's a freaking garage door. Still not sure what the problem with it is, but it can be replaced for X $ and an informed buyer would know that, and expect a bit of a discount for it. I reserve obsolescence for larger issues. You can always reconcile at the lower end of value range for it rather than adjust, or adjust aprox cost to cure.

 

[ZZGAMAZZ]

It's a freaking garage door. Still not sure what the problem with it is, but it can be replaced for X $ and an informed buyer would know that, and expect a bit of a discount for it. I reserve obsolescence for larger issues. You can always reconcile at the lower end of value range for it rather than adjust, or adjust aprox cost to cure.

My original post noted that it might just be a subjective concern of mine, although the need to open the big vehicular sliding door after going outside the front door into the front yard in front of the world to get to the washer/dryer seems like such a PAI--although here in Orange County, CA--nowhere near a nice neighborhood--where a 60-year-old, 1000 sf in C4 condition on a 5500 sf lot fetches $950K, virtually Nothing about the physical improvements is significant enough to warrant concern, or attention....

 

[J Grant]

My original post noted that it might just be a subjective concern of mine, although the need to open the big vehicular sliding door after going outside the front door into the front yard in front of the world to get to the washer/dryer seems like such a PAI--although here in Orange County, CA--nowhere near a nice neighborhood--where a 60-year-old, 1000 sf in C4 condition on a 5500 sf lot fetches $950K, virtually Nothing about the physical improvements is significant enough to warrant concern, or attention....

I would think someone spending 950k for a house would have the 5-10k needed to replace a garage door -

 

[alebrewer]

If you noticed the lack of a component that the market might consider relevant, then there's probably good reason to believe the market might consider that as well. However, at that price point: (1) it may be difficult to distill the impact that lack of such a door might invoke, and (2) the impact may be minimized by the overall price point. I'm guessing you found no sales of comparable properties with which to extract market behavior? Could also be a reflection of overall quality, no?

 

[Gobears81]

functional superinadequacy.

Functional deficiency

The older a property is, the more that functional obsolescence seeps in. On the cost approach, you would recognize a higher degree of functional obsolescence than the 60 y.o. house in the neighborhood that does have interior access to the garage - assuming that is your conclusion. But if you were appraising the 60 y.o. house in the neighborhood that does have interior access to the garage, functional obsolescence would also most likely be recognized in the cost approach to account for building characteristics that are not found in new construction (small closets, etc). So, functional obsolescence in this case is both relative and absolute.

 

[ZZGAMAZZ]

I would think someone spending 950k for a house would have the 5-10k needed to replace a garage door -

Makes me literaly sick at my stomach to engage with mooks who have $$$$$ in equity simply because they had enough common sense to purchase a home in virtually Any Southern California market anytime in the past few decades except for a few years here n there.