Noted architect

[tmon43]

I am appraising a property which was designed by a noted architect. The architect's name was John Randal McDonald, who studied under Frank Lloyd Wright and practiced what was known as Organic Architecture during the 50's and 60's (later he did more commercial stuff). I am wondering if anyone else has appraised any properties designed by famous architects and what if any effect they found on the property's value.

 

[DMZwerg]

I am appraising a property which was designed by a noted architect. The architect's name was John Randal McDonald, who studied under Frank Lloyd Wright and practiced what was known as Organic Architecture during the 50's and 60's (later he did more commercial stuff). I am wondering if anyone else has appraised any properties designed by famous architects and what if any effect they found on the property's value.

Well, one thing that matters is how closely it resembles the original design and whether or not it was updated or restored when maintenance occurred. I remember hearing about an appraisal of a property where the owner stated that it had been a famous architect that designed the place originally (building not on historic registry), but the structure had obviously been a two family converted into a SFR ...

On the other hand Prairie-style homes are common enough around here to typically be 1 "grade" higher than the typical for NBHD (such as Very Good quality in an otherwise Good quality NBHD) or worth 10%-20% more, generally based on higher quality of material, style & so forth.

Beyond prairie style locally I am not aware of too many "famous architect" homes in this area and thus do not have any "typically" numbers for "famous architect" even locally.

 

[The Warrior Monk]

I've appraised several by such architects as Richard Neutra (also a student of FLR), Stanford White, Norman Jaffe, Polhemus & Coffin, etc.

I really don't see value in the fact that a particular person designed the home, with the possible exception of extremely famous architects. Stanford White and Frank Lloyd Wright are some examples. However, even in the case of Stanford White, the particular type of homes he designed are of very high quality, are timeless, and appeal to the wealthy clientele. Other homes of similar design and quality seem to bring similar prices.

There could be particular exceptions on specific homes. For example, Norman Jaffe designed many contemporary-style homes that have a FLR influence. Many of his homes have been bulldozed due to the dramatic increase in land over the past several decades. However, there have been some notable exceptions. On Jaffe home had a particular type of California Redwood with very dramatic coloration, and this particular home sold for a ton of money. If it didn't, it probably would have been bulldozed.

The long and short of my ramblings is that it is difficult to determine an adjustment for a particular architect. It's probably limited to extremely well known examples of the architect's work, and would probably have some type of historic/landmark status anyway.

 

[DMZwerg]

I really don't see value in the fact that a particular person designed the home, with the possible exception of extremely famous architects. Stanford White and Frank Lloyd Wright are some examples. However, even in the case of Stanford White, the particular type of homes he designed are of very high quality, are timeless, and appeal to the wealthy clientele.

Short answer: I agree with David.

Long answer:
Yeah, that is a good point about Wright and his successors ... Wright was far enough ahead of his time that the modern contemporary style has just now fully caught up and actually started to pass him up (aka, done with "smarter" roof designs that don't leak like a sieve, etc). Therefore the three things to consider are:

1. Quality
2. Functional utility
3. Effective age

Some of these FLW / prairie style / architect houses built before the 1950's

have an effective age much less than would be indicated by other properties of the same era, have much less functional obsolescence (but watch out for oddities like burlap covered walls), and as David stated, tend to be worth the same as houses of similar quality (albeit that cvan be higher than the surrounding NBHD in my experience). If the architect is famous enough then typically a small cadre of followers exist who will seek these out and pay the premium even if in an otherwise lesser NBHD (often results in longer marketing times though).

 

[tmon43]

I agree with both of you. This particular dwelling has had its original appeal impacted by the addition of a pitched roof over the original flat roof (with observation deck). However the dwelling is of higher quality of construction than most of the other dwellings in the immediate area. In my experience it isn't so much who designed the dwelling, but how it was built and later maintained.

 

[CANative]

I've done a couple by FLW proteges. Both in Sonoma County. Touted in MLS but it didn't seem to do anything for the sale price.

 

[The Warrior Monk]

I've got plenty of examples of FLR proteges homes being bulldozed. One of the more famous ones was the oceanfront home Vitas Gerulaitis died in.

 

[Elliott]

Floor plan?

 

[Restrain]

There is a fight going on here between preservationists and a land owner over a building constructed allegedly by a noted architect. Owner wants to demolish due to deterioration, functionality issues, but preservationists want to keep it. Market demonstrates no remaining value to the structure, but govt may interfere. So, are there such issues on your property?

 

[Terraform]

Most importantly, can you prove that the architect has an affect on the marketability of the subject at the time of your inspection. I have turned down assignments where the owner was convinced that the architect stigma was worth X amount, but I had no reliable market data to make an adjustment. Maybe 10 years from now, as the market improves, buyers will be willing to pay a premium for the architect.