Cohousing-L Mailing List: Re: Cohousing-L Digest, Vol 257, Issue 28

[Jack & Carolyn Salmon (2salmon]

I suggest you find an asssesor who has experience assessing condominiums with 
shared amenities such as club houses, swimming pools, shared laundry rooms, etc.

Carolyn

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> Today's Topics:
> 
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>   2. Question about Cohousing refinancing/comps (Kristina B.)
>   3. Re: Question about Cohousing refinancing/comps (Sharon Villines)
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> Message: 2
> Date: Sat, 28 Jun 2025 20:57:12 +0000
> From: Kristina B. <kristinabridget [at] hotmail.com>
> To: "cohousing-l [at] cohousing.org" <cohousing-l [at] cohousing.org>
> Subject: [C-L]_ Question about Cohousing refinancing/comps
> Message-ID:
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> 
> Hello, I was wondering if anyone has gone through a refinancing type process 
> where your house/unit value had to be assessed, comparing to "comps" or 
> similar homes sold in the area?
> Is there any way to count the value of one's percentage of common space in 
> the calculations?
> Because unit square footage is not comparable. :-/
> 
> Thank you,
> Kristina
> 
> Get Outlook for iOS<https://aka.ms/o0ukef>
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> 
> ------------------------------
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> Message: 3
> Date: Sat, 28 Jun 2025 19:25:01 -0400
> From: Sharon Villines <sharon [at] sharonvillines.com>
> To: Cohousing-L <cohousing-l [at] cohousing.org>
> Subject: Re: [C-L]_ Question about Cohousing refinancing/comps
> Message-ID: <C8E2B390-5162-4E18-8333-6F662A1CCE2C [at] sharonvillines.com>
> Content-Type: text/plain;     charset=utf-8
> 
>> On Jun 28, 2025, at 4:57?PM, Kristina B. <kristinabridget [at] hotmail.com> 
>> wrote:
>> 
>> Hello, I was wondering if anyone has gone through a refinancing type process 
>> where your house/unit value had to be assessed, comparing to "comps" or 
>> similar homes sold in the area?
>> Is there any way to count the value of one's percentage of common space in 
>> the calculations?
>> Because unit square footage is not comparable. :-/
> 
> Choose your assessor carefully. They only care about comparables from the 
> last 6 months to a year. I just had this done last spring and the prices were 
> expected to be dropping, so the assessor was afraid of being too liberal. 
> Trumph had just started off on the tariff rant and no one knew what was going 
> to happen.
> 
> No matter how much I talked about cohousing facilities, it made no difference 
> because there was nothing to compare it to. Unless there is a direct 
> comparable the cohousing amenities are not relevant. To assessment requires a 
> comparable. Assessors think like banks, not like real estate agents.
> 
> Sharon
> ----
> Sharon Villines
> Riderwood Village, Silver Spring MD
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> End of Cohousing-L Digest, Vol 257, Issue 28
> ********************************************