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log cabin anyone?

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johntucci

Thread Starter
Freshman Member
Joined
Jul 14, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I have a 2 bedroom brick single family home on a lake, i have 1 3 bedroom lakefront home and a 3 bedroom home that is not on a lakefront, my best comp is a 2 bedroom LOG CABIN, can I use the log cabin as a comp, its on the same lake as the subject and brackests age GLA and is the only 2 bedroom in the area within the subjects paramaters....any help is greatly needed thanks fellow appraisers
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Sure. You won't be able to measure a reaction for the bedroom difference, but at least you'll show marketability. Explain, explain, explain.
 

Michigander

Senior Member
Joined
Oct 23, 2003
Professional Status
Certified Residential Appraiser
State
Michigan
What is the number one factor for a purchaser considering buying on this lake? Is it the lake, or the house? Go from there (and remember to factor front footage, slope to lake, quality of the frontage, beach, prevailing winds, etc.)
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
What is the number one factor for a purchaser considering buying on this lake? Is it the lake, or the house? Go from there (and remember to factor front footage, slope to lake, quality of the frontage, beach, prevailing winds, etc.)

Canadian beer farts?
:rof:

Log home buyers are a different breed, IMM. Good advice posted by both Jim and Serena.
 
Joined
Jun 3, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Most of the log homes in Colorado are in the mountains, and I haven't seen any significant difference in their market appeal or value. That may not be true elsewhere, but it seems to be case here.

Crummy log homes are comparable with low quality conventional construction homes; high quality luxury log homes compare favorably with high quality custom homes with standard construction.
 

johntucci

Thread Starter
Freshman Member
Joined
Jul 14, 2006
Professional Status
Certified Residential Appraiser
State
Florida
thank you all very much, your support is truly appreciated.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
The waterfront properties share the same utility (waterfront use) and the same location influences. Generally, the market appeal will be focused on the waterfront rather than the building construction. It has been my experience in doing hundreds of waterfront properties that a waterfront buyer will overlook a lot in the house (physically and functionally) in order to get a property that fronts on the water (locationally). If this is true in your market, comment on this in your report; that different sizes, styles and construction of housing are less of a factor in the buying decision for waterfront properties than the location (lake/river) and the site (type of water frontage).
 

johntucci

Thread Starter
Freshman Member
Joined
Jul 14, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Thanks Ricahrd I now have it in my quiclist!!
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I would think location, location, location! Type of construction, Style, and number of bedrooms would be secondary....IN MY OPINION. Out here there is a big difference between a log home and log cabin. Very limited water front property in Colorado.
 
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