Neighborhood

[Ken-NC]

Personally, I really dislike seeing, "See attached map." for the boundaries description! Drives me nuts! What, you can't describe an area? :blink:

 

[Thomas Fiehler]

May I suggest that you report the ranges, perhaps omitting the extremes at each end. When it comes to predominant value/age I NEVER list a single figure. My $ range may be 90K-450K with predominant of 135-175K. I have compelted thousands with this and have never been questioned about it.

 

[J. Parker Graham]

Neighborhood Boundries:

South of South River Rd., North of Huron Pointe, East of Jefferson, and West of Campau Bay on Lake St. Clair. All homes in the subject area are influenced by similar neighborhood characteristics.

Neighborhood :

The subject is located on the shore front of Lake St. Clair, 1 mile South of South River Rd. Homes in the subject area are mixed in age. style, and construction. Brick and frames ranches, colonials and split level colonials. Homes are receiving average exterior maintenance. Proximity to shopping, schools, employment, and recreation is average. Property compatability and market appeal is average. There are no adverse factors that would affect markerability. Lanse Creuse School system.

MLS statistics indicate that home prices in the subject area are stable. Typical marketing time is less than 90 days. Financing is predominantly conventional with no evidence of seller concessions. Sales prices are typically with in 97% to 100% of the listing prices. Interest rates are still considered favorable with financing available from many sources.

You can use older comparables or out of the area comparables with explinations in the Sales Comparison. Water front appraisals require heavy consideration between canal and open water due to influence a bridge has on boat size. Never mix canal front and lake front on the same report. Use more than 3 comparables, and consult the municipal assesor for help with the lot value. Adjust for seawall construction. Do not include a boat hoist - personal equipment. develop your value with consideration given to extras. Photograph inside and outside and most importanr photograph the body of water. Do not overly complicate the report, but be inclusive. Don't be afraid to write. Become a water front specialist and you can experience specialized fee's.

Regards, JPG