• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Neighborhood Roads And Their Intrinsic Value To A Property

Status
Not open for further replies.

jshaw

Freshman Member
Joined
Nov 3, 2016
Professional Status
General Public
State
Michigan
Hello,
Does anyone know of studies showing the value of roads. Not going from dirt or gravel but just tearing up fully improved roads (storm drains, full curbs and full concrete) and replacing roads. A neighborhood in my city is having this done and they are charging each home 20,000 dollars or more in a special assessment tax. I was asked if they could charge so much if their is no real return on the investment, they are already accustomed to having fully improved roads, these are just being replaced.

What is the value and have appraisers ever added value to land or a home simply by fixing the roads?

Thank you
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Hard to say without getting into detailed, market specific analysis that would require weeks of pro bono work by a local professional.

A truly wild guess, based on speculation with your minimal assumptions, location and irrelevant numbers, I would say you town is broke. They probably have bad roads (per some gov't guidelines) and have to comply in order to continue to get federal money for other items. Spend it because it's there, spend to get more in the future. Special assessments are buried in your municipal rules where participation by residents is mandatory by law.

Additionally, they are 'tearing' up the road for some reason. I bet you a bitcoin that you can find out in 3 phone calls. Pick up the phone and start dialing.

But, then again, it's hard to say over the interweb, summarize a solution in several sentences from 500 miles away. You need a local professional and it will cost real folding money.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
No, what is the value if there were no roads into the property. It is just the côst for living in a HOA...like fixing the CHA you gotta do it.
 

jshaw

Freshman Member
Joined
Nov 3, 2016
Professional Status
General Public
State
Michigan
Hard to say without getting into detailed, market specific analysis that would require weeks of pro bono work by a local professional.

A truly wild guess, based on speculation with your minimal assumptions, location and irrelevant numbers, I would say you town is broke. They probably have bad roads (per some gov't guidelines) and have to comply in order to continue to get federal money for other items. Spend it because it's there, spend to get more in the future. Special assessments are buried in your municipal rules where participation by residents is mandatory by law.

Additionally, they are 'tearing' up the road for some reason. I bet you a bitcoin that you can find out in 3 phone calls. Pick up the phone and start dialing.

But, then again, it's hard to say over the interweb, summarize a solution in several sentences from 500 miles away. You need a local professional and it will cost real folding money.

Thanks for taking the time -

Special assessments, by law in MI are suppose to confer a benefit to the property, not dollar for dollar but with in reason...this was, we are disputing, does not. We feel their is almost no benefit especially when we are used to having paved roads. It is a long story, but the gist of this questions - have appraisers ever adjusted their appraisal based on roads? It certainly is way WAY down on most if not all peoples reasons for buying a home, after schools, land, kitchen, beds, bath, etc etc...in my three homes ad looking at over 150 properties in many neighborhoods, I never noticed the roads...I believe an in-depth market analysis but because it is such a low low priority (roads) few have researched or studied their impact.
 

Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
Many possible factors involved here. There are appeal rights but "burden of proof" is upon you to support your contention. I think you already know this.
Private message me...
(Click my name and start a conversation)
 
Last edited:

jshaw

Freshman Member
Joined
Nov 3, 2016
Professional Status
General Public
State
Michigan
No, what is the value if there were no roads into the property. It is just the côst for living in a HOA...like fixing the CHA you gotta do it.


Thank you...see above in the thread
 

Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
Hrmmm...Won't allow PM with you.

email: ********@outlook.com

I will be deleting my email reference promptly so I hope you see it or get email alerts
 
Last edited:

Artemis Fowl

Senior Member
Joined
Mar 16, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
FYI I have NOT fulfilled the OP's original request...studies or analyses of the benefits of road repair.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks