|Appraisals/Real estate : building relationships||<– Date –> <– Thread –>|
|From: heidinys (heidinysearthlink.net)|
|Date: Mon, 3 Feb 2014 06:07:41 -0800 (PST)|
Hi, Another good point, Katie. We live in a decidedly non-urban setting--then again, we are but 100 miles from NYC, and that does make a difference. We had an appraiser for a while who had known us ( ie various of us here at Cantines Island) as a close family friend for years. that was great. she went on to a different career-- but actually we should ask her for if she has an appraiser friend for the next time one is needed. We have a similar person who is a Real Estate broker. He loves the idea of CoHousing. It is probably wise--not that anyone can do One More Thing-- to have a connection w folks on Real Estate before needing then. Perhaps invite one, or several to a potluck, or an Open House-- you get the idea. They can fall in love w CoHousing---or, if they do not, you know ahead to do this w a different person. the mortgage terrain is rough right now, and may remain so for a while. Having relationships in place may help folks understand what CoHousing is, and that cannpt hurt. Ruth Cantines Island Saugerties, Ny Where we love kids, and have one building lot available, and one wonderful compact house, and one larger house. Date: Sat, 01 Feb 2014 14:47:40 -0800 From: Kathryn McCamant <kmccamant [at] cohousingpartners.com> Subject: Re: [C-L]_ appraisals It is a lot easier to do a cohousing appraisal in a city where there have been other new condominiums built. It particularly challenging in more suburban and rural areas where there are no nice new condominiums, and anything attached was built cheap and is consider quite inferior. We rarely had issues with appraisals at Doyle Street Cohousing, but up here in the Sierra Foothills it can be a real challenge, and then there was the appraiser for the Senior Stillwater Oklahoma commmunity who really had to work hard to try to make any sense of it, since there was nothing like it in the State. It really helps if you can educate your local appraisers. 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 Jan 31, 2014, at 4:23 PM, Kathryn McCamant 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
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