ramrcdk
Senior Member
- Joined
- Jan 15, 2008
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
Post # 20:
Around Here: Comparable Builders - price increases over past 7 months, 5-6 different times. The total increase was @$38,000+- for a
1200- 1500 SF townhome.
Buyers are buying "dirt", proposed construction with an Open-ish Completion Date based on access to materials.
Their Final Sale Price using comps that finally closed nearly a year later with a Pending Sale Date nearly a year prior.
So, that means in a "market based appraisal" current -use closed sales are Out Of Date.
Pray for a recent RE-sale that aids to " current market ".
A Report- documentary for use of a time adjustment & ONLY when the builder provides ALL pages of the contract
&& for consistency OF several contracts.
Around Here: Comparable Builders - price increases over past 7 months, 5-6 different times. The total increase was @$38,000+- for a
1200- 1500 SF townhome.
Buyers are buying "dirt", proposed construction with an Open-ish Completion Date based on access to materials.
Their Final Sale Price using comps that finally closed nearly a year later with a Pending Sale Date nearly a year prior.
So, that means in a "market based appraisal" current -use closed sales are Out Of Date.
Pray for a recent RE-sale that aids to " current market ".
A Report- documentary for use of a time adjustment & ONLY when the builder provides ALL pages of the contract
&& for consistency OF several contracts.