Neighborhood Descriptions

[Justin Ashley]

Hi All,

I’m back to ask for some more help. I’m learning a lot in my continuing education courses. I’m still trying to find a job in the appraiser industry but in the meantime I’m taking additional courses. This week we are required to write a page neighborhood description on two different areas in the Columbus market. My question to all the experienced appraisers out there is what are the most important things to mention when describing the neighborhoods? It’s unclear to me weather or not our professor wanted us to center it around a subject property or just do a page report on each without the subject. I’m waiting to hear back from the professor to clear that up. Please let me know what you guys think.

 

[Kate]

I describe both.

I describe the area within my neighborhood boundaries and I describe any outside influences to the neighborhood.

How many people work within the community? Where do they work?

Where is the closest shopping area, schools, parks, recreation ext?

Are the schools systems thought of highly? That can matter in a community especially due to the fact that people with kids will check schools out before they move to an area.

What is the population and size of the area? What are the population trends?

It there public transportation near? How far is the closest major route?

Here is an example of how I might describe an area. I would just add comments about the area inside my neighborhood boundaries.

With a population of a little more than 15,000, Milford is an important commercial and employment center for the smaller surrounding communities. Milford serves as the region's hub of activity, with two major shopping plazas, many convenient retail centers, auto dealerships, fast food chains, other restaurants, a health and fitness center, parks, and the American Stage Festival. But, for all its commercial and industrial activities, Milford still retains an historical small town charm. Union Square is the center and heart of Milford. The original town hall, built in 1870, was recently renovated and listed on the National Register of Historic Places. The downtown area continues to be preserved and improved through grass root initiatives, town support, and the formation of the Milford Downtown Ongoing Improvement Team.

Today, the classic oval and bandstand of Union Square are surrounded by small shops and restaurants. During the summer, free concerts are held at the Emerson Park every Wednesday night, drawing residents and visitors downtown. Some of the most popular Milford annual events are organized by groups within the community, including the Keyes Art Show, the Pumpkin Festival, the High Hopes Hot Air Balloon Festival, and the Labor Day Parade.

Centrally located at the junction of Route 101 and Route 101A, Milford is home to a number of manufacturing firms including but not limited to Hitchiner Manufacturing Ferrous, Hendrix Wire & Cable High, Norton Company, Spear Pressure, Airmar Technology Corporation Ultrasonic, Diamond tools and coring, Milford School District, Alene Candles Candles, Harborside Healthcare and Hampshire Paper Corporation. Percent of residents working in community is 34%, commuting to another NH community is 55% and commuting out-of-state is 11%.

Education is a priority for Milford residents. The town is preparing its youth for the 21st century with high speed Internet access and Internet-based instruction in the schools. Its high school graduates can boast SAT scores above state and national averages, and the fact that over 75% of 1996 Milford High School graduates immediately pursued further education.

Population Trends: Milford grew above the statewide average rate over the last five decades, more than tripling the population. Decennial growth rates ranged from a 15 percent increase between 1990-2000 to a 36 percent increase between both 1960-1970 and 1980-1990. Milford's population increased by a total of 9,376 residents, going from 4,159 in 1950 to 13,535 residents in 2000. The 2003 Census estimate for Milford was 14,235 residents, which ranked 18th among New Hampshire's incorporated cities and towns. 545.7 persons per square mile of land area. Milford contains 25.4 square miles of land area and 0.1 square miles of inland water area.

 

[Smokey Bear]

I like Kate's area description. Here's a recent neighborhood description I did: (ignore the lack of capitalization for proper names, I converted it from ALL CAPS to avoid offending Kate's sensibilities.)

The subject is located in the island community of Alameda, in the east bay area of the san francisco bay area. Alameda is a 30 minute drive, bus ride or ferry ride to downtown san francisco, and is connected to oakland by drawbridge and tunnel.

The subject neighborhood is generally central alameda. The subject is 4 blocks from park street, alameda's downtown area. It is 1/2 block from alameda high school, and less than 1 mile from crown memorial state beach, which is 2.5 miles long with swimming, sand dunes and bicycle paths. Central alameda also holds major civic buildings, such as city hall, the main library, alameda high school and kofman auditorium, where the alameda civic light opera performs.

The neighborhood is mostly residential use, with a small commercial center a few blocks away. Houses are typically victorians, bungalows and cottages, built between 1990 and 1935, with some infill of 1960's style small apartment buildings (4-8 units). Many of the victorians in this neighborhood have been converted to apartments.

One one side of the subject is a single family victorian built in approximately 1909, on the other is a 4 unit apartment building built in 1966. Across the street are multi-unit buildings and single family houses.

Alameda is located near all typical amenities including employment centers, shopping centers, schools, municipal services, public transportation, and recreational facilities. Police and fire protection appears adequate. No unfavorable conditions that may have an affect upon the marketability of the neighborhood are apparent.

 

[Kate]

Originally posted by Cynthia Hamilton@Jan 23 2006, 01:13 PM
I converted it from ALL CAPS to avoid offending Kate's sensibilities.)

:rainfro: :rainfro: :rainfro:

 

[Stone]

Those are two well written examples. They are probably a little more thorough than many other's.

One thing I do not mention (and I am not saying it is necessarily wrong, just that I stay away from it when describing the neighborhood) is the school quality. To me, that is a perception issue and can vary from person to person. At leaast around here, where there are many good districts, it seems best for me not to mention it.

Not saying it isn't part of the marketing and purchasing decision, just that I don't usually mention it. I have no idea if it is common for other appraisers to do so.

 

[CANative]

Naughty, naughty Kate.

 

[DB]

"This is the only neighborhood, within the subject marketing area, that does not have a crack house, a meth house, or a murder, thus far in 2006."

Anything after that, they don't really want to know anyway ... :rofl: :rofl:

 

[Kate]

Originally posted by Greg Boyd@Jan 23 2006, 03:09 PM
Naughty, naughty Kate.

Because of the school thing???

 

[Stone]

Originally posted by Kate@Jan 23 2006, 02:25 PM
Because of the school thing???

I didn't say it was naughty...it is probably just fine. I was simply adding my two cents to the original question.

 

[CANative]

Michael,

Kate's comment was directed at me. Just an inside joke of sorts. All that clique stuff dontcha know.