Re: Appraisers and larger-than-needed cohousing units [FWD]
From: Fred H Olson WB0YQM (fholsonmaroon.tc.umn.edu)
Date: Fri, 3 Mar 95 10:59 CST
DONM [at] CALON.COM is the author of this message but due
to a listserv problem it was posted by the COHOUSING-L sysop (Fred).
****************  FORWARDED MESSAGE FOLLOWS *********************

>  Could it be that people who would prefer to buy and live in small homes
>are being subtly discouraged from joining local cohousing groups by the
>prospect of having to buy more house then they want, resulting in groups
>that appear to be unanimously in favor of larger homes?
>
>Bob Morrison
>
>Home: Boxboro, MA              Work: Digital Equipment Corp., Littleton, MA
>

No Bob,

We have a similar situation to Jim in Boston. Here in Santa Rosa, Ca, 
supposedly the 5th highest area in regards to home prices in the U.S., the 
estimated selling prices of our homes at Acacia Lane Cohousing will be from 
$180,000 to $250,000 for two to 4 bedroom homes.  They will range in size 
from around 800 Sq Ft to 1800 Sq Ft and will compare in cost to traditional 
homes in the area with quite a bit more floor space.

Katy of the Cohousing Co explained to us that builders typically build the 
larger homes because they do not cost that much more to build but they can 
demand more money for them.  The smaller homes have many fixed costs in 
common to the larger homes where the greatest expense is, the kitchens, 
bathrooms, etc.  The lenders, appraisers, etc. are not familiar enough with 
how the common areas enhance the value of cohousing homes.  They still try 
to compare dwelling to dwelling with little regard for the common areas when 
appraising.



donm [at] calon.com
Santa Rosa, Ca



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