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New Construction?

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CANative

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Retired Appraiser
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Opinions?

This is an area where about 1500-1600 homes were destroyed by wildfires in the course of about a year.

When owners rebuild is this new construction?
 

Randolph Kinney

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Apr 7, 2005
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State
North Carolina
If they keep any part of the original structure, it may be considered to be a remodel. Check the local building department.
 

CANative

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Professional Status
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State
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That's not what I mean. It has to do with market analysis.
 
D

Deleted member 134708

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C1

Dwelling has never been lived in. Yes. New construction.
 

CANative

Elite Member
Joined
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Professional Status
Retired Appraiser
State
California
My question was not about condition or the actual building. It's about market analysis and growth. Of course the replacement house is new (construction) as in newly constructed but if 100's of lots are being rebuilt upon does this mean there is growth and demand?
 

AMF13

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Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
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New construction. And it is re growth.
 

nstanbru

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Feb 19, 2009
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Certified General Appraiser
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California
but if 100's of lots are being rebuilt upon does this mean there is growth and demand?

The operative word in your statement is "rebuilt". I agree with nottrav in post #6.
 

CANative

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Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Many are choosing not to rebuild and there is a yuge over supply of vacant lots. You can pick up a good size lot for less than $5,000. Hundreds and hundreds of them.
 

nstanbru

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Professional Status
Certified General Appraiser
State
California
Many are choosing not to rebuild and there is a yuge over supply of vacant lots. You can pick up a good size lot for less than $5,000. Hundreds and hundreds of them.

Based on what you just posted, it seems there is (at least to me) a negative effect as a result of the fire. Sounds like people are afraid to live there any more. Just curious, have you been able to speak with anyone who lost their home and decided not to rebuild?
 
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