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Metal Roofing

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pgmmm

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Mar 6, 2008
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New York
Can someone share some insight regarding metal roofing? If the subject property of a residential appraisal has a new metal roof and the comparables used in the report where new conventional asphalt shingles would there be an adjustment based on the comparison of the two types? What I’m saying is I’m considering a new roof (I live in NY) and a metal roof system seems to be the better choice based on the almost life time guaranty, the fact it's energy star ratedand a green product. These roofs are more than three times the cost of a conventional roof so I’m wondering if that valuewill be realized by an appraiser if such a property was the subject of a residential appraisal report and if so, how is it factored.
Thanks
Pgmmm
 

Tom Woolford

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Nov 20, 2005
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Certified Residential Appraiser
State
Florida
Plus and minus. They are not as attractive as dimensional shingles, but they have longer life. Down here (Florida) they tend to hold up better in high winds. In the North Country, they shed snow better on a properly pitched roof. I'd say its a trade off: better performance vs better looks. Personally, in both locations I'd prefer the metal roof. But its a local market acceptance thing. If you are going to be in the house for a long time, do what pleases you, and makes sense for your particular situation.

But thats just my opinion. You mileage may vary.........
 

Boonders

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Oct 31, 2006
Professional Status
Certified General Appraiser
State
Iowa
Which kind of metal roof are you considering? The shingle looking ones or the corrugated metal sheets? I'm more curious than anything.
 

Green Hornet

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Dec 29, 2006
Professional Status
Certified Residential Appraiser
State
Washington
PGMMM

I would say that it is the market that needs to decide if there is an extra value associated with the metal roof. The appraiser analysis the market to find what is valued and what is not.

Are there other metal roofs in you neighborhood? If not, chances are it is not a market demand or you could just be ahead of your time and it is the next great trend.

Once the basic function of a roof is met, what is the market's reaction to anything additional. Most people move within a 5-10 year period. If I am shopping for a house and find two I like, one with a metal roof for $300,000 and one with a new comp roof for $250,000, all else being equal, I know which one I would buy.

My 2 cents.
 

lizhorvath

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Dec 11, 2003
Professional Status
Licensed Appraiser
State
Michigan
I would almost tend to think it's more "marketable" than to have more tangible value.
I mean, you have to have a roof right? That was nice of them to get a good metal roof (at about $40k, probably). But to have a valid market, doesn't that indicate that a buyer has to be specifically shopping for a house with that roof?
I don't think I'd adjust for it - but then again, Marshall & Swift would probably say different.
 

pgmmm

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Mar 6, 2008
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State
New York
Metal roofs

Not sure this is working but here we go again. All great answers, thanks. The roof whether single seam or shingle about the same price, in this case 24k vs ashpalt at 6k to 7k. Knowone to my knowledge has a metal roof in my neighborhood. I guess we are talking quality in the sense of longevity. It's like ABC vinyl windows vs Pella or Marvin wood/metal clad, clearly a difference correct? What about a inground pool? One has vinly liner the other gunite? Let's talk decks, one treated lumber the other a long term composite. Kitchen counter tops? Granite vs mica Are these products being recognized by the appraisal industry as superior to that of there counterparts and if so how are they adjusted accordingly? Or is this simply a function of functionallity.

Sorry for the spelling errors if there are any.

Thanks again
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
That's a tough one. Around here, they seem to be preferred.....generally speaking. But I'll reserve that statement because I've seen some pretty ugly combinations...... manufactured home plus the two additions, wrapped under a bright red metal roof. When appraising, I'd consider all other amenities first.
 

Jungle Boy

Senior Member
Joined
Oct 30, 2002
Professional Status
Real Estate Agent or Broker
State
Florida
With little market data to support an adjustment, it's difficult to apply one.

The appraiser may be experienced enough to estimate an adjustment, but he has nothing to back it up. That may or may not fly with an underwriter.

Some consideration should be given to the price of homes in the neighborhood.
If prices are 200 to 300 (possible that in your area - you don't say where in NY - you may have to double my numbers, get the drift?), then paying close to 20 extra for a better roof may not be a typical thing, and therefore no adjustment may be the way to go.
If houses are selling for 400 to 700, then maybe an adjustment would apply - or maybe not - what applies in one neighborhood may not apply in the next. There is one development here which only allows metal roofs - nothing else is allowed.

There are way too many things to consider, in order to give a yes or no answer to your question.

The same applies to your questions about granite counter-tops, pools.
For example, in some neighborhoods inground pools add more value than in other neighborhood. In some neighborhoods they don't add any value, and may in fact detract.

My suggestion is: put yourself in the shoes of a typical buyer who's looking to purchase in the neighborhood, and then answer the question yourself, based on what you've learned here.
 

BNICK

Junior Member
Joined
Jul 9, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Metal roofs as most have replied here are market driven some metal roofs make a tremedous amount of interior noise when it is raining outside, whether is is drizziling or coming down in buckets,I just did a custom built home that had an all copper roof , due to the roof design it had curves instead of hips and valleys, I did not give it any adjustment as the neighborhood had structures with slate, cedar shake roofs. Market driven acceptance versus market driven performance
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
No adjustment given in my market. So easy to work with even an appraiser can do it.
 
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