Cohousing-L Mailing List: Re: Cohousing difference or premium in unit appraisals

[Jessie Kome (jehako]

Hi-

When we sold our unit in Eno Commons, I set up a marketing book (3  
ring binder) with information on the unit and on the common  
facilities.  I also prepared an audio presentation for the features of  
the house and another for the features of the community, set up as a  
walking tour (hand-held unit and headphones).  Our realtor (paid for  
by my employer) loved the gear and said that everyone with him looked  
at the book and most took the tour.

In the marketing book, I put a small version of the house plans, a  
description of the geothermal heat pump and a chart with the last 12  
months worth of power charges, a page showing the fiscal status of the  
HOA very simply (reserves, capital improvements, operating costs) and  
including the community policy to avoid special assessments by  
adequately funding the reserves, a couple of articles about the  
community including one from Fine Homebuilding, and the narrative from  
the house tour audio detailing the features of the home and the common  
facilities, including the quality construction and the green elements.

I happened to be present when the appraiser came.  She definitely read  
through the book and was especially interested in the items indicating  
the very low running costs of the house and the HOA fiscal policies.   
After she looked through the house, she asked me to walk her through  
the common areas, very quickly.  She asked some questions about  
whether the HOA always funded insurance for the common areas, then  
left.  Reading through the appraisal afterwards (I pestered my realtor  
to get it), I saw that she definitely considered the high quality of  
the materials and construction in the house and she recommended as the  
best comparable a recently sold home in a nearby golf course community  
rather than a home nearer to us that did not have any access to  
community facilities.

If you make it easy for an appraiser to get information about what  
comes with the purchase of your home, I think they will try to take it  
into account.

Jessie Handforth Kome
Eastern Village Cohousing
Silver Spring, Maryland
"Where we have a new Common Grounds cafe in the common house. Coffee,  
tea and snacks at all hours!"