What are my peers' adjustment values when appraising $1.7 to 2.1million?

[Joe Flacco]

The land matters a lot. Understanding land is what separates the experts from everybody else.

 

[sputnam]

Sorry..... I've misplaced my 'adjustment list'. You may have to do what I do.... extract adjustments for each appraisal. There are over 30 accepted methods for extracting adjustments. The one or ones you use will depend on the particular adjustment and the data that is available to you. You don't have to always show your work... but that work does have to be in your work file.

 

[Digger88]

I recently got a private appraisal for a prominent member of my home town who wants to know their home's value.
It was referred by a mutual friend.
The comps I have indicate $1.9. I plan on using 6 sold comps.

I'm confident in my adjustment values when doing mortgage work. But this one has me second guessing myself and I want to hear what you guys are doing.

The subject was built in 1920, 3200 s/f. 5 bedrooms (two legal BRs on the third floor), 3.1 baths, C2 condition, since it was gut rehabbed in 2023, lot size is 12,000 s/f.
The comps are similar in age and location, with some variation in conditions.
The undeniable comp is from June 2024 and is right across the street, with an identical lot size and condition, but is 3700 s/f and sold for $2,025,000.
So, what would your adjustments be on GLA, baths, lot size, garage, condition, pool, patio, deck, finished basement. Etc.?

You have a perfect comp right across the street adjust for the knowns Flacco nailed your GLA this is a slam dunk