Just A Thought

[jtrotta]

here we are in a robust market, everything is selling - the problem is when your looking for comps. :?

this is a made up example;

Subject is a Split Level - 2200 SF / 3F / 2-FPL and 2Att - deck/sp/IG Pool and backs up to a lake.

the only sales within the past several months are Colonial in design and over 1 mile away - all within the Sale Price range of the subject; the range of SF (GLA) is within 10% up or down/ BR similar / 1FPL ea / and no Pool or Lake frontage, but comps have Cent.AC.

What would be your view of the problem :?:

8)

 

[Terry Russell]

This is a made up response,

I suppose (within my limited knowledge) it is based around the assignment, your client’s requirements, and your expertise.
If that is what you have to work with (other than increasing your distance from subject) and it is well-documented in all aspects that (you believe) lowers the accuracy of the value, then it is an appraisal. Eh?

Terry

 

[Tim The Enchanter]

I'd be looking at older sales data in the lake front area to go with the more recent stuff elsewhere. And active listings, expired, withdrawn, etc, if needed. Land?

And make sure the lake area does not have some adverse thing going versus the other area, like I dunno, a polluted poison lake? :wink: A pool comp would be nice too, but not as necessary in my view.