In your market area, what residential characteristics would bump a home from a Q3 to a Q2 rating in one of your reports? I ask because while I have tried to go by UAD guidelines, there frankly are not a lot of high quality homes in my market area. In the few reviews I have done, it seems like sometimes other appraisers are going with better quality ratings on a home than I would have in some instances.
Any thoughts appreciated!
Enough people have commented on cost per sf to build so no need to repeat it, you asked what residential characteristics would bump a home from Q3 to Q2 in our market...we do get a fair amount of Q2 homes here ( and a rare few Q1). For q3 to Q 2, it is the overall higher level of finish and architecture...such as higher ceilings, intricately coffered ceilings, and crown molding, and custom paint and chair rail moldings on the walls down to the double height or craftsman milled baseboards, or cypress wood wood beams on the ceiling etc, depending on character of the home.
Whereas a Q3 might just have crown moldings, and stock coffering if any in living, maybe a tray ceiling in the master , regular baseboards etc. The kitchen, Q2 has thick slab quartz or exotic granite with double bullnose, Q3 has nice but more "stock" quality granite of medium slab/single bull nose, cabinets and appliances and finishes/fixtures would be commensurate materials in each room. I've seen kitchens with Viking ranges and custom cabinets /miele appliances that cost as much as a small starter house.
The higher level/ more "custom" or superior quality starts on the exterior of the home and continues inside. A Q3 home might have an S tile roof, a Q2 home has clay barrel tile to replicate the mansion roofs of Palm Beach Island, or maybe a high tech metal roof or a roof of solar tile etc. Whatever the style of the house, it is superior quality of its type. If contemp it often has big windows, interesting angles, lutron smart house , shades that darken in the sunlight etc, if an older home it is restored with original detail with carved mantels etc, In other words, no matter the style or age, A Q2 house goes "beyond" a very nice, but more ordinary Q3 of similar style or age.
f you want to develop your eye, search online for high end listings at any of the RE sites. Start looking at and study the interiors and exterior photos and written descriptions of a 3000 sf home listed at 1.2 million vs a 3000 sf home listed for 790k in the same area ( which might correlate to Q2 and Q3) Search high end kitchen and bath websites see the latest $ appliances and cabinets and bath trends, same with other design or builder material websites. for floors and roofs.
