Cohousing-L Mailing List: Re: Appraising Coho Amenities

[Sharon Villines (sharon]

On 6 Feb 2012, at 10:26 AM, R Philip Dowds wrote:

> 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.

They only do it to the extent that other condos have amenities. They have no 
basis for appraising the much greater proportion of amenities. As I said, one 
consultant told us that comparable common elements would only exist if the 
condo had 400 units. We have 43, so if our condo price is the same as theirs, 
the extra common space is not being appraised. And the appraisers tell us it 
isn't 

Sharon
----
Sharon Villines, Washington DC
"Behavior is determined by the prevailing form of decision making." Gerard 
Endenburg