I am here in north Texas where log homes are becoming "stylish" as Dave mentioned. Lots of BIG new ones being built. Several new ones over the past few years, but all were apparently custom homes and few, like one every two years or so, will sell.
I get calls from mortgage brokers (and others, but I call most of them mortgage brokers) wanting appraisals for re-fi's with the low rates and all. The first thing I do is go into the speech about: a) several in the area; b) several new ones recently constructed; c) all custom builds; d) no sales of logs, therefore, no comps; e) the newer log homes are generally equal to or superior to most other types of new construction in the area with regard to materials, quality, workmanship, functional utility, appearance, etc.; f) in my feeble opinion, "comps" CAN be of brick homes so long as overall factors for comparison are similar, and, finally; g) I will only accept the assignment at a slightly increased fee (to cover all of the time and phone calls and etc. that I know will be involved) to be paid in full upon my visit to the property. The first thing they have to do is call the underwriter. If all that is approved, then I don't have much to worry about. Everyone knows up front what is about to happen and I get paid in advance.
As a humorous note, the last one that I had, about three weeks ago, kept harping on wanting AT LEAST ONE log home comp.. This was on a log home on about 30 acres in a rural area. I told her that I had two log home sales, both on waterfront lots on two different lakes with the nearest to the subject being about 25 miles and that I would be happy to include one or both of them as comps if she thought that market conditions for water front lots on recreational lakes would be comparable to 30 acres of rural land. Fortunately, I have not heard from them again.
Jack
