Cohousing-L Mailing List: Re: Appraising Coho Amenities

[R Philip Dowds (rpdowds]

I thought the idea is that, when you own a condo unit, you also own a 
proportionate share of the Association's pool, racketball court, horse barn, 
helicopter pad, etc.  I would have imagined that appraisers do indeed take into 
account such shared amenities of real property.  I would not expect that they 
would try to value intangibles like cohousing communal lifestyle and 
self-governance.

RPD

On Feb 6, 2012, at 9:25 AM, Sharon Villines wrote:

> 
> 
> On 6 Feb 2012, at 9:04 AM, Rebecca Reid wrote:
> 
>> I just had my house at Pioneer Valley appraised, and the appraiser added 
>> $50,000 for amenities of cohousing.
>> The amount added to appraisals over the years has gradually gone up for 
>> whatever reason.
> 
> It would be wonderful to have some sort of statement to this effect from a 
> real estate agent or appraiser. When communities were having difficulty 
> getting financing in the late 1990s, a cohouser put together a spreadsheet of 
> all the banks that had given construction loans to communities.
> 
> The appraisers in DC have said consistently, not just recently, that they 
> can't appraise the amenities becausse there are no comparables. Knowing that 
> it is done in other places, and how, would be very hellpful.
> 
> Sharon
> ----
> Sharon Villines
> Takoma Village Cohousing, Washington DC
> http://www.takomavillage.org
> 
> 
> 
> 
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