Typical affect of mismatched fencing on appraisal value

[azham24]

Good evening. I would very much appreciate your opinions on this subject - in terms of the degree of impact that a mismatched fence would, or would not, potentially have on the overall appraisal value.

For example, suppose that a typical suburban house has primarily wood fencing in the back yard, but on one of the sides, shared with a neighbor, the fence is of a white vinyl type but that section is in excellent condition.

Is this typically a significant issue, a minor issue, or really not at all?

I'd very much appreciate your thoughts. Thanks!

 

[Tim The Enchanter]

This is what % of the property value?
Probably a non issue.
You have a fence. Good enough, unless it is falling down or overly ugly.
I am thinking a suburban type area.
Others, like rural, may differ.

 

[J Grant]

neutral should have no affect

 

[DTB]

A rickety, falling down fence may push the property down to the lower end of the indicated value range.
A wrought iron fence with brick posts may push the property to the upper end of the indicated value range.

All else in between no impact.

 

[Terrel L. Shields]

Very difficult to extract such from market data.

 

[Mark K]

Zero effect in my opinion.

 

[Mike Kennedy]

Contributory Values for site improvements (including houses, garages, exterior amenties - driveways, patios, decks, landscaping, fences etc.) are local market specific i.e. and/or neighborhood specific and often dwelling age, dwelling style, actual age, effective age, quality, above and below grade utility (+/- finish), view, lot size and utility, and additional site improvements determine market demand for improvements.

IOW - extracting contributory values for all the elements above. What OTHER buyers of OTHER competitive properties actually PAID $$ ( note: cost is not a comparative element on resale properties) determines the answer to your question AS OF a specific DATE. An owner may get a ROI on improvements equal to, above, below or NO return on RE-sale.

One tool to use is comparative analysis of ACTUAL closed, and recent Competitive Properties. Remember Listing Agents "cma" may be helpful or misleading IF the preparer does not remain entirely Neutral and Objective. CMAs to determine Listing Prices done to OBTAIN a new listing is often jaundiced at the get go.

Suggestion: as Appraisal Values are OPINIONS which should illustrate Contributory Values - have 3 appraisals done by 3 different Appraisers on a "what if I added xxxxx<< new improvement or improvements" basis.

Consumer tastes change, markets change, Agents who perform "pre-listing" CMAS are seeking the Listing to Sell and have commissions riding on a sale.

Independent and Objective Appraisers could care less what the $$$ value is - NO Escalating Commission riding on the Opinion. "it is what the competitive market says it is".

Finally, the last sentence is of utmost import. Simply buyers of the most similar, recent, and proximate to yours determine "market value" for competitive properties inclusive of location, (geo and often school district), view, lot size, lot utility and topography, dwelling style, age, design, and all the other improvements which may currently be worth the same as what they cost, less than what they cost, zero contributory value (over-improvement), OR add MORE than cost.

IT DEPENDS.

In my local markets savy owners wisely retain the services of an experienced LOCAL Appraiser to answer "the question" BEFORE they make a $$ investment.

IOW - what would current market value for my property be IF ..................I added, etc. etc. etc.

 

[Salty]

Really there no possible way I could extract that impact on overall value In my area. Its too insignificant. Even more significant items similar to this are not really possible to credibly derive a number other than providing a cost to cure.

One would need a large enough sample size of homes with similar deficiencies to extract market data.

 

[Tim The Enchanter]

I can imagine an exception if you are in an tight azz HOA that requires you keep that block wall in perfect shape, and use those fancy blocks and nothing else.
Then it might become, it will cost $2,000 to fix that wall damage. Now you have it quantified. But those kind of hoods around here are high major bucks and $2,000 or so is pocket change to the owners.

 

[Lee Lansford]

Good evening. I would very much appreciate your opinions on this subject - in terms of the degree of impact that a mismatched fence would, or would not, potentially have on the overall appraisal value.

For example, suppose that a typical suburban house has primarily wood fencing in the back yard, but on one of the sides, shared with a neighbor, the fence is of a white vinyl type but that section is in excellent condition.

Is this typically a significant issue, a minor issue, or really not at all?

I'd very much appreciate your thoughts. Thanks!

In a word: Minutiae.