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New Addition On A C4-c5 Subject

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DARREN GODFREY

Junior Member
Joined
Nov 15, 2006
Professional Status
Licensed Appraiser
State
Maryland
Lately it seems I can't get a break on complex assignment on seemingly innocent looking order lol.

Anyways, FHA appraisal on 1950's Rancher with 2200 sf GLA , This property is owned by someone who calls themself a "contractor" .

Well the original property was 1500 sf , then a new addition about 5 years ago ....it's by far the nicest part of the house.

My question is how would you go about making the adjustment for the addition that is in C2-C3 as I don't think I will be able to find another house like this in this market.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
I would probably go C-4 which sounds like the over-all blended condition of the original structure and the newer addition. In other words consider the condition as a package because trying to make a separate adjustment will just lead you down that rabbit trail to appraiser-reviewer hell : )
 

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
I had one like that recently. From the street view on google house looked pretty good. Lakefront home on a large parcel. Piece of cake, right? Never judge a book by the cover. Original house interior was c5 and addition was a c3. The original rear of home had open, uncapped structural beams. When I asked the owner what was going on there he said they had some work done on the support beams a few years ago. I asked why they had been left open and he said more work would be done in the next year or so. This is in a Northern locale with extreme winters. I can't begin to tell you the amount of revision requests I got with this even though I notified AMC as soon as I got back to my office and wrote a lengthy addendum on this issue and what needed to be done and why. I could have written it in another language because that was the level of knowledge I was dealing with at the AMC. Good Luck. Like you, I too can't seem to get a break.
 
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