Value attributed to pool

[Ron Howson]

Lonnie, everyone here is wrong. Since you live in the cold North, most of the time it is frozen. You have to appraise it as a Hockey Rink. Far more valuable.

 

[Vermonter]

Lonnie, everyone here is wrong. Since you live in the cold North, most of the time it is frozen. You have to appraise it as a Hockey Rink. Far more valuable.

On this note...ponds (not the plastic ones) are hot here and will contribute to value. Hockey in winter, swim in summer, little or no maintenance.

When I was training in VA, most appraisers avoided pool adjustments. There just wasn't a consistency among comparables to warrant it. I think starting cost for an inground was $70k with them averaging about $100k and topping out above $250k.
Talk about borrowers whining.

 

[Richard Carlsen]

Lonnie, everyone here is wrong. Since you live in the cold North, most of the time it is frozen. You have to appraise it as a Hockey Rink. Far more valuable.

Doesn't work Ron.

We tried using a neighbors frozen pool for a hockey rink when I was a kid but we kept banging into the diving board.

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[Steve Owen]

Doesn't work Ron.

We tried using a neighbors frozen pool for a hockey rink when I was a kid but we kept banging into the diving board.

​

My Dad opened a new motel in about 1961, by about 1964 we were skating on the pool in the winter; did that for two or three years, everyone bought ice skates and they were hard to come by in these parts. Here in Joplin, we had to leave the pool full of water to keep it from floating and cracking... put a log in to keep the ice from breaking the tile around the edges. Never saw it that cold here before or since... it takes about a month of mostly zero F or below to freeze a nine foot deep pool good enough to skate on it. People were driving their cars out on the ice on Grand Lake of the Cherokees. (Pools add some value to motels, BTW.)

 

[Trebor]

I have a pool and I asssure you I wouldn't sell for the same price as if it weren't there.

 

[Richard Carlsen]

I have a pool and I assure you I wouldn't sell for the same price as if it weren't there.

Good point Robert but unfortunately you constitute only half of the market participants.

Bottom line is that if the buyer will not pay any more for a house with a pool than they would for one without a pool, one of two things will most likely happen:

#1 Your house will not sell at your elevated sales price and you will be stuck with it until you decide to lower the price

#2 Your house will sell at the same price as a house without a pool and you will be mad at the guy who sold you the pool who said it would add value to your house.

The nice thing about the "Market" is that it does not depend on one participant for a determination of value.

 

[Deuce of Spades]

It all depends on where you are and what the market is doing.
In FL pools are valuable, but varies greatly from market to market. Some areas can be way under $10k (low income); others 15-25K and in high end areas $30k+. Gotta do some paired sales.

 

[Richard Carlsen]

It all depends on where you are and what the market is doing.

Nanette

Not sure if you are commenting on my post or not but if you are, I think your statement is partially wrong. The situation I described regarding Roberts comments is not dependent on location. It is entirely dependent on the Market which is made up of a buyer and a seller. Location is an influence on the needs/wants/desires of the participants but only tends to influence the actions of the Market participants (read Buyers/Sellers).

So if a seller in an area thinks that the pool is worth $x and the buyer thinks its worth $y, there is no market until there is a meeting of the minds and a market is created. The fact that there is no or low or high demand for the pool is irrelevant. It only goes to influence the positions of the two market makers; the Buyer and the Seller.

 

[Deuce of Spades]

Nanette

Not sure if you are commenting on my post or not but if you are, I think your statement is partially wrong. ).

Richard -
The post was not directed at anyone. My comment simply states that it depends on the location of the market and the norm for the area. When I say location I am referring to an area of the country; Michigan VS FL; sunshine and hot VS cold and snow.
The norm for the Central Florida market (the only one I know) is that pools typically bring value as they are usable almost year round, many buyers want them and a price is paid for them. However, if you don't want one you buy a house without one because down here you will generally pay for one. Only in a few markets, generally the very low end, will you see no additional value added, but then again there are generally few pools in a low end area to begin with. Hence, this is why paired sales are used to determine the value associated with a pool. I don't know what the percentages are but we have pools everywhere and in some neighborhoods 80-90% of the homes will have a pool.

 

[Mike Kennedy]

So if a seller in an area thinks that the pool is worth $x and the buyer thinks its worth $y, there is no market until there is a meeting of the minds and a market is created. The fact that there is no or low or high demand for the pool is irrelevant. It only goes to influence the positions of the two market makers; the Buyer and the Seller.

A single buyer / seller relationship reflects the motivations of only that buyer and seller. This, of itself - unless both are stranded on a deserted island without any other human residents - does NOT create a Market.

The fact that there is no, or low, or high, demand for the pool is - ENTIRELY relevant..... One Sale, or One Contract - does not a Market make.

note: demand reflects the actions of typical buyers (unrelated to the buyer/seller) which create a Market. :icon_idea: