Re: appraisals
From: Ann Zabaldo (zabaldoearthlink.net)
Date: Sat, 1 Feb 2014 14:50:17 -0800 (PST)
Katie —

You are the expert and I bow to your experience and expertise.

Somehow, the argument for additional charges because “it’s cohousing” doesn’t 
ring true for me.  I really want to see the argument for it from the appraiser 
charging the extra fees.

For instance, you say it’s hard to equate our CHs w/ “Clubhouses”  Here in DC, 
the condos coming on line have “clubhouses” that would make you weep they are 
so extensive and beautiful — they look like and function very much like a CH.  
In fact, it’s now somewhat hard in re: marketing to say “look we have this 
great common space!”  Standard condos now have them, too.  I guess cohousing 
taught them something about design, marketing and community!  I’m saying that 
the CH difference isn’t much of an argument anymore since more and more condos 
have this extensive space.

Plus — at TVC we haven’t had a problem in the recent resales or refinancing.  
At Eastern Village, just 1.3 miles away, a founding member had problems 
refinancing his home w/ THE SAME LENDER because “it’s cohousing.”  It was 
cohousing when he bought eight years ago.  Really?  It’s capricious.  Or so it 
seems to me.

Yes.  Lending restrictions have gotten tighter.  I advise people seeking 
financing to emphasize that you  are “just a condo” like it says in your 
organizing documents.  

Maybe we should go back to the days when we didn’t breathe the word cohousing 
in the same room as a lender.

My 1.5 cents worth.

:-)

Best --

Ann Zabaldo
Takoma Village Cohousing
Washington, DC
Principal, Cohousing Collaborative, LLC
Falls Church VA
703-688-2646


On Jan 31, 2014, at 6:23 PM, Kathryn McCamant <kmccamant [at] 
cohousingpartners.com> wrote:

> 
> If it is the appraiser, or the banks underwriter that is giving extra
> review to the appraisal, that is charging more that is probably justified.
> Since 2009 residential appraisers are working under very strict guidelines
> and relatively low fees. In most of the communities I am familiar with,
> its hard to make sense of sales prices on the standard appraisal check
> lists and costs per square foot pricing conventional homes are appraised
> on. For example, the box they check for a "club house" is does not equate
> to the 3000-4000+ square feet we have in our common houses--not unusual to
> be more than 100 sf/unit . I would much rather pay a little more for a
> better appraisal that justifies the price (and cohousing is more expensive
> to create), than have to deal with the aftermath of a bad, low priced
> appraisal. 
> 
> Katie 
> Nevada City Cohousing
> -- 
> Kathryn McCamant, President, Architect
> CoHousing Partners, LLC
> 241 Commercial Street
> Nevada City, CA 95959
> T.530.478.1970  C.916.798.4755
> www.cohousingpartners.com
> 
> 
> 
> 
> 
> On 1/31/14 1:07 PM, "Ann Zabaldo" <zabaldo [at] earthlink.net> wrote:
> 
>> 
>> Hi Holly and all -
>> 
>> Does this person have this in WRITING that that¹s why she is being
>> charged the extra $250?  This would be very helpful.
>> 
>> We¹ve been hearing these things about ³cohousing² for some time now
>> including not being able to get refinancing for a loan that was
>> originally financed through the same company.
>> 
>> 
>> On Jan 31, 2014, at 3:25 PM, Holly Wilder <hollywilder23 [at] gmail.com> 
>> wrote:
>> 
>>> 
>>> I heard from a former Nylander who is buying at another community and
>>> was just told she has to pay $250 extra because it's cohousing.  Anyone
>>> know anything about this?  Seems very lame to me. - Holly
>>> 
>>> Holly Wilder
>>> Visionary Properties LLC
>>> www.visionaryproperties.vpweb.com
>>> hollywilder23 [at] gmail.com
>>> (303) 517-4180 cell
>>> 
>>> 
>>> _________________________________________________________________
>>> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
>>> http://www.cohousing.org/cohousing-L/
>>> 
>>> 
>> 
>> Best --
>> 
>> Ann Zabaldo
>> Takoma Village Cohousing
>> Washington, DC
>> Principal, Cohousing Collaborative, LLC
>> Falls Church VA
>> 703-688-2646
>> 
>> _________________________________________________________________
>> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
>> http://www.cohousing.org/cohousing-L/
>> 
>> 
> 
> 
> _________________________________________________________________
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