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subject: "Double Dipping" with adjsutments...Question! - 08/09/07 08:41 PM
I was asked recently to make a "location" adjustment in addition to a "view" adjsutment as the reviewer thought that the view had to be associated with "higher elevation" and therefore was in a "superior location" I tried to explain that some of my comps were actually "lower" in elevation than the Subject and other comps, due to the coast line and hillside nature of the neighborhood and it was the degree of the "VIEW" (i.e. 180 degrees, white water vs Blue water Ocean, partial, peek-a-boo, etc) that determined the value not the elevation, but she wanted a locatioin adjustment anyway. I had the
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subject: But why didn't use the house next door as a comp? - 07/19/07 07:59 PM
There are many times when borrowers, lenders and agents present "comps" to me that they consider relevant for the appraisal I am working on. I am very happy to get information from realtors and owners, especially onwers as they tend to know more about what is happening on their street than most agents and may have more up to date info if there was a recent sale or listing on their street. I also ask agents and borrowers from time to time if they have comps they would like me to consider, especially, if there are a lack of more recent
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Jeremy Cowin
Altadena,
CA
More about me
Jeremy Cowin Appraisals
Cell Phone: (818) 795-9623
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