Cohousing-L Mailing List: cohousing and resale

[Shelly DeMeo (shelldemeo]

Wondered if anyone would share experiences with resales of cohousing units in 
their communities, specifically appraisals of units.  Under our bylaws sellers 
are required first to offer units to folks on the waiting list at a price set 
by an appraiser, who presumably prices the unit at fair market value.  But 
residential appraisers typically base fmv on comparable sales, although there 
are other methods, and so the question becomes -- comparable to what?   Because 
there aren't that many cohousing units in the area, and even fewer that turn 
over within the six or nine-month lookback period that appraisers are required 
to use, does the appraiser turn to single family homes or condos to use as 
comparables? Are conventional appraisers able to come up with a true fair 
market value for a home in a cohousing community? Any insights would be much 
appreciated. 
Thanks, Ray