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No Side Service Walks

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sosappraisal

Thread Starter
Freshman Member
Joined
Dec 4, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Hello,

I have an interesting assignment in Chicago. The interior lot is a typical
25' width X 125' length. The dwelling sits in the back of the lot and
measures 25' in width. There are no side service walks. The homes on
both sides of the subject have their service walks facing the subject so
there is room to make needed exterior repairs or maintenance with
permission from the owner. I have found no sales within a reasonable
distance that feature such a problem. Obvious incurable functional obsolescence. I would greatly appreciate any thoughts on the matter.

Thank You.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Sounds like an ancient oriental appraisal curse: "May you get interesting assignments" :leeann2: ...

Lacking any obvious way to get comparable sales... was the most recent sale recent enought that you can get OTHER sales to compare to the SUBJECTs most recent/past sale?... That may (perhaps) give a solid basis from which to announce that there does/does not appear to be value diminution attributable to the admittedly less than desirable condition.

If the purpose of the report is for a 2ndary market/Fannie all you can do is splain what you did and how you didit. Cause they want is without and y caveats.

Might suggest that the current owner acquire permement easement from BOTH neighbors for maintenance purposes only... might cost him/her no more than the price of a steak dinner for two!

Future owners are stuck with the 'skyhook' method of repairs... if either neighbor rescinds the right of trespass....

But I betcha find that no one cared in the past....
 

Suz-E

Senior Member
Joined
Apr 17, 2006
Professional Status
Certified Residential Appraiser
State
Illinois
Hello,

I have an interesting assignment in Chicago. The interior lot is a typical
25' width X 125' length. The dwelling sits in the back of the lot and
measures 25' in width. There are no side service walks. The homes on
both sides of the subject have their service walks facing the subject so
there is room to make needed exterior repairs or maintenance with
permission from the owner. I have found no sales within a reasonable
distance that feature such a problem. Obvious incurable functional obsolescence. I would greatly appreciate any thoughts on the matter.

Thank You.

In which area of the city is your subject?
 

sosappraisal

Thread Starter
Freshman Member
Joined
Dec 4, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
The subject is located in the Pulaski and Irving Park Area.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Did you check and see if there were any easements recorded on the other side of the fence/lot line?
 

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
Pulaski and Irving? See how many of your rear of lot sales are still standing. I would imagine you have a pretty high land to improvement ratio anyway.

Rear of lot is going to be the HUGE part of your FE with minimal or any for the lack of gangway.
 
Joined
Jun 3, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
In Denver, this type of property is called an Alley House. They are often lower quality construction than other homes in the neighborhood, and the best comps are generally the bottom of the market sales.

The back of lot location is probably more significant that zero setback on either side.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
We call them zero lot line homes. Or, townhouses. What's the big deal?
 
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