Where on the grid to make this adjustment?

[Tom D]

You can make the primary bedroom adjustment either on a separate line like JGrant suggests or put it on the design line. Either way you need to explain it.

very few, if any, make an adjustment on the functional utility line on the market grid.
we don't have to get all the extras/upgrade adjustments anally right. if the adjusted values are close enough, then done and sent. happy lender, no questions asked. perfectionist please, no remarks.

 

[RCA]

On new construction homes, lately I have been asking for contracts on comparables when the opportunity presents itself. I do not know where to make the adjustment for differences in options selected on the grid. I have a comparable, very similar floor plan and GLA on the same cul-de-sac that sold for $30k more than the contract price of my comparable. I got the contract and options selected were ~90k for comparable compared to ~70k for subject.

Completely separate assignment but same question, where on the grid: Subject property has primary bedroom on second floor along with all the other bedrooms, some comparables has the primary bedroom on first with all other bedrooms on second. There is a very clear difference in pricing for this. So where would I put this adjustment if say all comparables and subject have the same amount of rooms??

First time posting on here, so please forgive me

There should be extra lines for you to enter "custom" features at the bottom of the form. You can aggregate several features into one group if needed, providing a grid breakdown of the aggregation in the addenda. I have found that is acceptable to lenders.

 

[J Grant]

There should be extra lines for you to enter "custom" features at the bottom of the form. You can aggregate several features into one group if needed, providing a grid breakdown of the aggregation in the addenda. I have found that is acceptable to lenders.

There are several blank lines at the bottom of the sales comparison grid on the form where we can enter custom comments.

 

[Tom D]

The new form, in time for the funeral, will probable solve where to put this.
Expandable form, what a thought, brilliant minds maybe decades behind in how appraisals are thought thru and looked at.
But, then my original 8 page report didn't seem to need all these extra page for all the minutia now written.

 

[Sadie]

very few, if any, make an adjustment on the functional utility line on the market grid.
we don't have to get all the extras/upgrade adjustments anally right. if the adjusted values are close enough, then done and sent. happy lender, no questions asked. perfectionist please, no remarks.

I usually only make a functional adjustment when something is weird, like an ensuite bath with no doors so all is viewable from the bedroom.

 

[Tiffany Gibbons]

I usually only make a functional adjustment when something is weird, like an ensuite bath with no doors so all is viewable from the bedroom.

No sliding "Barn style" door? God, I can't wait for that to die out. Be sure there's not a cool pocket style door before you make that lil adjustment. How much is a door? I think that's definitely curable. Hell, hang a curtain. That's nothing.

 

[Sadie]

No sliding "Barn style" door? God, I can't wait for that to die out. Be sure there's not a cool pocket style door before you make that lil adjustment. How much is a door? I think that's definitely curable. Hell, hang a curtain. That's nothing.

Oh, that toilet was out and proud. The reviewer even called me to make sure. Even though, the photo showed it.

 

[Tiffany Gibbons]

Oh, that toilet was out and proud. The reviewer even called me to make sure. Even though, the photo showed it.

I have seen where there's just a sink and toilet out in the open in laundry/utility rooms, but at least the room itself had a door. That is too funny. It is much easier in mass appraisal where you just have the number of plumbing fixtures at depreciated cost. I did a new house last week that had 5 bedrooms, 4.2 full baths in 2100 sf. Those upstairs bedrooms were teeny. 2 of the upstairs bathroom doors were next to each other. 2 were en suite, one connecting with a toilet in each dressing area, big luxury bath and another half bath down. At least they're not wasting space with 2 story entrances anymore. Are they designing houses for short term rental now? Potential rooming houses? Do kids clean their own toilets? JK, I know the answer to that one.

 

[Terrel L. Shields]

90% plus adjustments for Functional Utility is just a number the appraiser just pulled out of their backside...but they will claim "paired sales" as the way they derived it.

 

[Sadie]

No sliding "Barn style" door? God, I can't wait for that to die out. Be sure there's not a cool pocket style door before you make that lil adjustment. How much is a door? I think that's definitely curable. Hell, hang a curtain. That's nothing.

There wasn't even a door way, just wide open. Also, barn doors have their place. If there is not room for a pocket door and the swing of a regular door interfers with function, a barn door works. I put a pair in my bathroom for those reasons. No room to make a pocket door and I was tired of navigating around the swinging doors. But agree, they are not for EVERYTHING.