Features like interior "bridges," loads of built-in shelving, open-concept peculiarities, etc, look fantastic to me, but I can see how they might look a little odd to others.
This is a got-a-full-page-in-the-housing-section-of-the-local-paper "unique" house.
Are there any rules of thumb vis-a-vis just going with square footage, given that "artistic" house touches add value to some people but decrease it to others to the extent where it ends up as neutral?
It's one thing to compare standard houses where you can say "den, dining room, 4 bedrooms, etc...", but I have no idea where one even starts estimating the value of something like an attached log cabin.
Any thoughts?
2006-11-28 09:45:20 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
As an appraiser, I would first take the square footage, the most important part of an appraisal. Bedroom count doesn't matter, room count doesn't matter as long as you use comps with the same amount of square footage. The attached log cabin would be included in the square footage minus depreciation (it sounds old). Make good use of the County Equalized Value on record, most homes run pretty close to value now.
The extra amenities you can adjust when you compare this home with others in the area that might have the same extras, all built in the same era. Sometimes the uniqueness of a home will bring down its market value somewhat, depending on if its the "odd man out" in the neighborhood.
Look for homes that may be similar, as close as you can get. If its a two-story, don't compare it with a ranch, etc. Look for homes about the same age, look for homes within a 20 miles radius. If no comparable even close, you can't add alot for the extras, it sounds like a hard-seller! I hope this helped, good luck.
2006-11-28 10:03:04 · answer #1 · answered by Barbara 5 · 1⤊ 0⤋
start by doing some research. When was the last time it was sold? How much did it sell for then? Where any changes made? County recorders office has this info. Compare square footage also. Unique is appealiing to some but odd to others and generally bring a low price as there is rarely two that want it at the same time. Start with the research and compare to standard pricing at the time and go from there.
2006-11-28 10:00:42 · answer #2 · answered by Jim7368 3 · 0⤊ 0⤋
Wow. What does your agent say? Plan for it to be on the market a while. Sounds like you need a "unique" buyer. Where in the US is this?
2006-11-28 09:48:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋