cohousing and resale
From: don i arkin (shardon5juno.com)
Date: Mon, 3 May 2004 08:59:10 -0700 (PDT)
Hi,  As a resident of a community with an extremely short waiting list
for house types not currently available, I am surprised to hear of an
objection to a policy that requires a sale at appraised value to someone
on the waiting list.  I can think of two objections though.  Appraised
value is almost an oxymoron and has limited meaning before there is
actually an offer on a particular house except for the rare circumstances
when an identical house has been sold in the same neighborhood in the
very recent past without extenuating circumstances.  So an owner could
believe that the house could sell for more than the appraised value,
although that price would likely become the appraised value after the
fact.
        The second reason would be if the owner wanted to sell it to a
particular friend or relative, or if the owner was leaving.  
        On the other hand, the value of a policy that "requires" such a
sale seems limited to me unless you are charging a fee to be on the
waiting list.  I would think that the immediate notice of availability
would be sufficient reward to make the list beneficial for buyers and
sellers alike. 
        Don Arkin, Sonora Cohousing where we currently have 4 of 36 homes
for sale.  We believe that the sales of Stone Curves, less than a mile
away and currently under constructions have temporarily hurt our resales
over the last year.

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