Cohousing-L Mailing List: Re: appraisals

[Fred-List manager (fholson]

 Kathryn McCamant <kmccamant [at] cohousingpartners.com>
is the author of the message below.  It was posted by
Fred, the Cohousing-L list manager <fholson [at] cohousing.org>
after putting the attachment at:
http://l.cohousing.org/Coho_Sale_Data_Sheet_June_2012_Bartholemew.docx

--------------------  FORWARDED MESSAGE FOLLOWS --------------------
I have worked with a commercial appraiser (does construction loan
appraisals, but not home loan appraisals) out of Davis, Ca for years. Lee
spoke at the last Cohousing Conference in Oakland, CA and generously
offered to collect data on resales for any cohousing resales that are sent
to him. Unfortunately, I don't think anyone sends him their data....If
communities could collect this data, including the initial sales data when
the community first opens, this would provide a great database,
information that could be used to make a case with lenders and even Fannie
Mae. This would also be a great project for the Cohousing Association to
support by posting the attached form for information to be filled
out--then just fax or scan it to Lee. Lee has been very generous with his
time talking to appraisers from around the country over the years. He
lived in Muir Commons for a while, so has a good understanding.  The key
to collecting resale data is not to leave it to the household
selling...they're moving on and unlikely to care, but rather for someone
in the community to take on this task for the longterm good of your
community and cohousing in general.

Lee Bartholomew, ASA, MRICS
Bartholomew Associates, Inc.
200 B Street, Suite C
Davis, CA 95616

530-750-1001 (tel)
530-750-1101 (fax)
leebartholomew [at] gmail.com
www.bartholomewassociates.com

Katie
Nevada City Cohousing
--
Kathryn McCamant, President, Architect
CoHousing Partners, LLC
241 Commercial Street
Nevada City, CA 95959
T.530.478.1970  C.916.798.4755
www.cohousingpartners.com

On 2/4/14 3:04 PM, "Sharon Villines" <sharon [at] sharonvillines.com> wrote:

>On Feb 4, 2014, at 11:29 AM, Kathryn McCamant
><kmccamant [at] cohousingpartners.com> wrote:
>
>> That's great that new condo developments in DC are including extensive
>> common facilities! I am curious how many units that typically have....
>>How
>> many share these common facilities?
>
>A year or two after we moved in, one of our construction engineers who
>does engineering and reserve studies for condos said it would take 400
>units to support the SF of our common house. In 10 years it might have
>changed but I doubt if very significantly.
>
>What we need is a database for each sale in cohousing that gives all the
>standard real estate data for the unit and for the neighborhood, perhaps
>by SF, financing bank, etc. That would establish some percentages that
>might be useful. So even if your neighborhood doesn't have any condos,
>the banks might be reassured by national trends. Particularly if they
>were financed by the same bank.
>
>One of my appraisers refused to even go into the common house because
>there were no comparables.
>
>Sharon
>----
>Sharon Villines
>Takoma Village Cohousing, Washington DC
>http://www.takomavillage.org