What condition rating

[J Grant]

It's still a dated kitchen. Unless your kitchen looks like that or is worse than that and you are offended at it being called a dated kitchen.

WE GET IT !! An appraiser can add comments that the style is dated even though well-maintained and adjust for that aspect if need be . the ratings do not prohibit an appraiser from additional comments or making an extra adjustment.

 

[Surf Cat]

Mckissok should not have a version

They shouldn't, but they do.... probably the number one continuing education platform for appraisers LOL

 

[Surf Cat]

What is the difference between "well maintained" and "very well maintained"? How is that measured? Is it subjective? Is every appraiser, agent, buyer, and seller going to rate every property identically in these categories? The pursuit of quality and condition ratings that reflect impacts on value is a stupid and wasteful endeavor that only continues because those demanding it don't understand the problem and have the power to force appraisers to attempt to placate their stupidity. In the valuation of a subject, the only thing that matters is consistent treatment of subject and comps by the appraiser. And they will always be able to say, "no, your ratings are wrong and our software proves it" (for no other reason than they programmed it while hiding its methodology).

Is "dated" subjective? If the objection to "walking distance" is that it is subjective (keeping in mind that its use in an appraisal report has exactly no impact whatsoever on anything under the sun), how can the same morons making that judgement promulgate a "standard" for a seemingly important rating (to them alone) that relies on a completely subjective term? And as has been suggested earlier, markets differ. I get the impression, from reading appraiser's comments here and on Fakebook, that the norm in some markets is to remodel the entire dwelling every 5 years, and missing one year renders a home nearly unmarketable. Yet here, we have homes that are 70 years old and have the original kitchen, and often baths. A coat of paint on the original cupboards often has the same impact on price as their replacement with big box quality product appropriate to that market segment. So what is the middle of the cycle of every component? Is it 2.5 years for kitchens, or 35 years? What is a "newer" roof? What is a "newer" HVAC system? This is all subjective bull**** conjured up by folks who haven't analyzed real estate data in decades, if ever, and don't have a clue, and is entirely driven by the desire to collect data to then falsely present results of their analysis based on that data as "accurate" without ever allowing objective analysis of the data to gauge the veracity of their pronouncements.

Epic rant dude....

 

[Dublin ohio]

I've been in houses where the bathroom has pink or aqua tile, matching tub, sink and toilet that look like they are less than 5 years old but were actually at least 30+ years old. Same with kitchens, birch cabinets, early Formica counter with metal edge, single porcelain sink. C3 or C4

 

[DWiley]

It has been my experience that some appraisers conflate the concepts of condition/quality/design. I often see appraisal reports where the quality has affected the condition rating. (And, no, that is not a guess, I have talked to the appraisers). If I purchase a brand new set of avocado green appliances, their condition would still be new. Or, if someone puts brand new laminate counter tops in a multi-million dollar home, those counter tops are still new.

 

[Tim Hicks (Texas)]

It has been my experience that some appraisers conflate the concepts of condition/quality/design. I often see appraisal reports where the quality has affected the condition rating. (And, no, that is not a guess, I have talked to the appraisers). If I purchase a brand new set of avocado green appliances, their condition would still be new. Or, if someone puts brand new laminate counter tops in a multi-million dollar home, those counter tops are still new.

I have been preaching this on the forum for years. You can have a new home with quartz countertops and upgraded appliances and the house next door have formica counter tops and low end appliances. They are both the same condition, but the quality is different. You should use the same logic in all assignments no matter what the age.

If one house remodels the kitchen with new vinyl coating on the counter tops, painted cabinets, new cabinet doors and new white appliances, but the house next door has new granite, new cabinets and upgraded appliances. Both are remodeled and similar condition, but one is higher quality.

Some owners have no taste. If they paint their exterior fuscia and use pinks and purples on the interior. It is not a condition adjustment. It is an appeal adjustment. Lots of UT (Texas) fans around here, but burnt orange is not a cool color for the exterior or interior of the home.

 

[DWiley]

I have been preaching this on the forum for years. You can have a new home with quartz countertops and upgraded appliances and the house next door have formica counter tops and low end appliances. They are both the same condition, but the quality is different. You should use the same logic in all assignments no matter what the age.

I had an appraiser say to me, "I can't possibly rate the condition more than C4 with it having vinyl flooring in the kitchen! Did you even look at the report?!?"

 

[Sid Holderly]

Tastes and available materials vary by area of the country. In this area that could be a new above average kitchen. Condition is not just your opion the kitchen and baths.

 

[J Grant]

Tastes and available materials vary by area of the country. In this area that could be a new above average kitchen. Condition is not just your opion the kitchen and baths.

Style/trend and condition and quality are separate ratings or observations. There in no official rating for style/trend, but there are blank spaces on the grid for it if we see it influence price or put it under design and appeal, and explain an adjustment for style or trend in narrative.

 

[Overimprovement]

Also, condition is related to economic life, not physical age. A Q2 component will typically last longer than a Q5 component. Remaining life is at play here, not merely physical age.