Copan Lake Topics: it appraised a bit low
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Name:   HTMLman The author of this post is registered as a member
Subject:   it appraised a bit low
Date:   4/4/2007 8:36:28 PM

Thank ya'll for the input. When the link went down, I thought it would end the trread,

I know he paid $225,000 on a 2003 contract. He then built a ~ $200,000 house and about 40K of dock work and other imrovments. It then appraised for the grand sum of $250,000 as per three comparible sales. They were off water sales, but 40ish acres.

This is why the appraisers don't work. If there are not three places on the lake with lake frontage, then the comparible sales method breaks down. The cost basis did not work also as the appriaser could not justify the over $5000/acre price he paid.

As above it is easy if you are looking at three subdivision sales with very comparable houses. This I learned in School.

Thanks one and all for the help.
Other messages in this thread:View Entire Thread
40 acres, APC lease on Lake - HTMLman - 4/3/2007 8:05:49 PM
     40 acres, APC lease on Lake - au67 - 4/3/2007 8:59:08 PM
          40 acres, APC lease on Lake - HTMLman - 4/3/2007 9:03:10 PM
     Not for Me to Judge - Feb - 4/3/2007 9:13:52 PM
     Don't pick this realtor - John C - 4/3/2007 10:01:22 PM
          Don't pick this realtor - roswellric - 4/4/2007 8:50:36 AM
               I only recently heard of - Harborcon - 4/4/2007 9:49:52 AM
                    Zillow - John C - 4/4/2007 3:38:28 PM
                         Zillow - Harborcon - 4/4/2007 4:01:13 PM
                              A ? to Harborcon - John C - 4/4/2007 4:17:24 PM
                                   A ? to Harborcon - Harborcon - 4/4/2007 5:58:54 PM
                                        it appraised a bit low - HTMLman - 4/4/2007 8:36:28 PM
                                             it appraised a bit low - LifeTime Laker - 4/5/2007 10:41:25 AM
                                                  So just how far - Harborcon - 4/5/2007 11:05:09 AM
                                                       So just how far - LifeTime Laker - 4/5/2007 11:32:49 AM
                                                            Dunno about your beachfront - Harborcon - 4/5/2007 1:00:31 PM
                                                                 A couple of points.... - LifeTime Laker - 4/5/2007 3:48:50 PM
                                                                      Humble apologies to you - Harborcon - 4/5/2007 5:05:28 PM
                                                                           Humble apologies back at you - LifeTime Laker - 4/5/2007 5:34:51 PM
                                                                                I must admit that - Harborcon - 4/6/2007 11:04:58 AM
                                                                                     Nice Rant, I enjoyed it - LifeTime Laker - 4/6/2007 12:17:44 PM


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