Primary suite full bathroom with no shower.

[J Grant]

This is what I'm dealing with. I'm sure if you would put the subject up against 3 different listings that had a tub and separate showers in the en-suite, the subject would sell last, as it doesn't have a shower. Even with a jank fix like it was suggested in the above post, it wouldn't come close to having a bathroom with no functional obs, especially in a higher price range.

You can appraise it at the lower range of value to compensate. Best not to make things up - how are you SURE the subject would sell last? It might depend on what other attributes it has compared to the other comps - upgrades, etc. We know nothing about this property other than the shower/tub issue.

 

[Trihard]

You can appraise it at the lower range of value to compensate. Best not to make things up - how are you SURE the subject would sell last? It might depend on what other attributes it has compared to the other comps - upgrades, etc. We know nothing about this property other than the shower/tub issue.

Because none of the other builders in the subject's neighborhood built an en-suite bath with a tub only. Moreover, It might not have been an issue when rates were at 2.5%; now there is a lot more inventory, and buyers have more choices. Basic common sense says you take the property with a separate shower and tub vs the tub with a jank fix to make it a pseudo shower; the ones without the functional issue will sell first.

 

[J Grant]

Because none of the other builders in the subject's neighborhood built an en-suite bath with a tub only. Moreover, It might not have been an issue when rates were at 2.5%; now there is a lot more inventory, and buyers have

What other attributes does the subject have or lack compared to the other properties? It is your appraisal, call it like you see it.

Is the subject's primary bath smaller than the other homes' primary bath or the same size? What is in the floor area of the subject bath where the other baths have a shower stall and a tub?
Here in FL there are priamry baths with just a shower, , some a combo, some a tub, other homes have primary baths with both. Homes that have both are more luucry and typically newer as the bath has to be larger to accomodate both...

Imo, it makes more sense to reconclie it at a lower end of value then to drill down on a precise market reaction -though you can ask RE agents who sell these homes for opinions.

 

[Dublin ohio]

Because none of the other builders in the subject's neighborhood built an en-suite bath with a tub only. Moreover, It might not have been an issue when rates were at 2.5%; now there is a lot more inventory, and buyers have more choices. Basic common sense says you take the property with a separate shower and tub vs the tub with a jank fix to make it a pseudo shower; the ones without the functional issue will sell first.

Even in a worst case scenario. How much would it cost to install a new faucet set w/a standpipe inside the wall for a shower head, maybe $1000. Unless you are talking about having a tub and a separate shower stall

 

[J Grant]

Even in a worst case scenario. How much would it cost to install a new faucet set w/a standpipe inside the wall for a shower head, maybe $1000. Unless you are talking about having a tub and a separate shower stall

It seems like all of a sudden he is talking about a bath that has a shower and a tub—which he did not describe as such in his original post. He never made it clear.

 

[glenn walker]

$1,500 to $2,000 cost to cure if buyer want's a shower installed. The plumping is right there. We have new Mc Mansion with Spa Tubs no showers in main bath. They sell for over a $1,000,000.

 

[Tim Hicks (Texas)]

Heck, before the 1970's many homes only had tubs. I don't see a value issue, maybe a marketability issue but if the rest of the home suits a buyer's needs it may not be an issue at all.

I don't think twice if the main bath only has a shower.

 

[ZZGAMAZZ]

Heck, before the 1970's many homes only had tubs. I don't see a value issue, maybe a marketability issue but if the rest of the home suits a buyer's needs it may not be an issue at all.

I don't think twice if the main bath only has a shower.

Theoretically speaking, can a factor affect marketability without affecting value? I'm asking sincerely.

 

[ZZGAMAZZ]

Even in a worst case scenario. How much would it cost to install a new faucet set w/a standpipe inside the wall for a shower head, maybe $1000. Unless you are talking about having a tub and a separate shower stall

Perhaps the question pertains more so to whether the appraiser needs to describe the issue, rather than to market reaction....

 

[J Grant]

Theoretically speaking, can a factor affect marketability without affecting value? I'm asking sincerely.

Yes- which is the reason why an estimate of market exposure is required by USPAP when relevant to assignment results . Market exposure an estimae how long it might take to sell a property exposed to the open market.

An oddball property or one with ext obs or an over improvement might take 180- 200 days to sell at 400k price, whereas the typical property might take 60-90 days at 400k

DOM market exposure,-for the estimate, remember that market value definition refers to the typical motivated buyer and seller. Does the typically motivated seller want to wait 200 days to sell a property? If not, they might reduce the price to 380 k to sell it faster. but n indivusal owner, they might wait 200 days to find that one buyr willing to pay 400k