Cohousing-L Mailing List: Re: cohousing premium?

[Diana Carroll (dianaecarroll]

"Also, I don't know why appraisers or
cohousing can't just compare each unit to the other ones around them."

not enough turnover. Someone here in Mosaic Commons is trying to figure out
a price to sell their unit, and there were no in-community comps; the last
unit of their type was sold over 4 years ago. (And comps between unit types
aren't accepted by appraisers -- the kinds of buyers who want 2BRs are not
the same demographic as those who want 4BRs).

This year we actually have two units of similar type for sale in the same
year. I believe that's a first.


On Fri, Nov 27, 2020 at 3:55 PM CJ Q <homeschoolvideo [at] gmail.com> wrote:

> One appraisal company wouldn't even try since there were no comps.  I don't
> know if that hurt the person trying to get a loan. I recently hired a
> second company - I will let you know. The reason is for banks and mortgages
> and how much I can price my unit.  It would hurt affordability if only
> people who pay cash can move in.
>
> I bought an affordable unit and it was below the appraisal.  I don't know
> how the developer got appraisals.  Also, I don't know why appraisers or
> cohousing can't just compare each unit to the other ones around them.
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