|Appraisals||<– Date –> <– Thread –>|
|From: John Major (themajorsmail.sisna.com)|
|Date: Thu, 29 May 1997 17:18:19 -0500|
Hi, folks - I've been through Stuart's great archives on the coho site on the subject of appraisals, and thanks to those contributors, but I'm going to appeal for more help to the list as well. It sounds like plenty of groups have had challenges getting appraisers to value the unique aspects of cohousing, because there are so few "comps" (comparable units) to look at, among other things. We feel that Salt Lake City as a strong housing market plays in our favor, but that we may still be right out on the edge with our costs, because the area we are building in hasn't yet seen the appreciation of other areas. So I am looking for ammunition as we go into the appraisal process for our construction loan. Of course, we will need it again when we face the appraisals for the end loans, as well. : - Do you have a success story with getting appraisers to value the special aspects of cohousing? (common house, green belt, shared facilities, etc.) Do you think your appraiser would talk to ours? - Does your development now have a waiting list for available units? Have you seen strong demand for your homes? Do they price at or above comparables in the neighborhood? - Have you got a war story to share on this topic? Something bad to watch out for? Thanks in advance - John Major Wasatch Cohousing, Salt Lake City, UT ...where we are doing the mating dance with banks, and are getting hives from waiting to start!
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