Richard Carlsen
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Licensed Appraiser
- State
- Michigan
I've done 3, $1MM+ homes so far this year.
You want hard, try finding $1MM+ comps in northern Michigan. The last one was as interesting as they come. The house was situated on a 20-acre parcel with 18 of the acres having been put in a nature conservancy. All of my $1MM+ house comps are located on either inland lakes or have Great Lake frontage. My justification for using the GL frontage houses was that the frontage is nearly all view with some beach usage but no boating, etc from the frontage. (Plus they were all that I had). Try putting a dock out on Lake Michigan and the storms will sweep them away fast.
Fortunately, most of the comps available were newer construction so I didn't not have to worry about the age factor.
You want hard, try finding $1MM+ comps in northern Michigan. The last one was as interesting as they come. The house was situated on a 20-acre parcel with 18 of the acres having been put in a nature conservancy. All of my $1MM+ house comps are located on either inland lakes or have Great Lake frontage. My justification for using the GL frontage houses was that the frontage is nearly all view with some beach usage but no boating, etc from the frontage. (Plus they were all that I had). Try putting a dock out on Lake Michigan and the storms will sweep them away fast.
Fortunately, most of the comps available were newer construction so I didn't not have to worry about the age factor.