Bamba
Junior Member
- Joined
- Sep 12, 2007
- Professional Status
- Certified Residential Appraiser
- State
- Pennsylvania
I'm doing an appraisal on a home that has beautiful views of Susquehanna River. No sales in the neighborhood with similar location. All lots in the development are sold vacant and then later on, they build the houses, but no resales in the last couple of years.
I have two comps with more land than subject but they don't have any river views...another one of my comps (an outdated one) has similar views with subject but more acreage...When I do my site adjustments, I'm thinking of adjusting more per acre difference for the one with location and view similar to the subject and less per acre for the ones with no view...am I wrong in my thinking? Lots are selling next to the subject for 260K, 270K and 380K for one acre lots...compare to 100K-150K for 3-4 acres lots in other areas
What do you guys think? Can it show as inconsistency in the report?
I have two comps with more land than subject but they don't have any river views...another one of my comps (an outdated one) has similar views with subject but more acreage...When I do my site adjustments, I'm thinking of adjusting more per acre difference for the one with location and view similar to the subject and less per acre for the ones with no view...am I wrong in my thinking? Lots are selling next to the subject for 260K, 270K and 380K for one acre lots...compare to 100K-150K for 3-4 acres lots in other areas
What do you guys think? Can it show as inconsistency in the report?