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Old 10-15-2010, 04:45 AM
 
Location: Collegeville PA & Towamensing Trails
510 posts, read 598,210 times
Reputation: 274
Quote:
Originally Posted by varmintblaster View Post
LOL...

I'm not sure how much a strange colored foundation is going to detract from the value of a neighbor's house (one would hope they picked burnt orange instead of neon bright orange).

I thought a residential appraiser puts the most emphasis on the dwelling being appraised (and 3 comparative properties that recently sold in the general vicinity).

hopefully he/she is colorblind
That is the appraisers' methodology used to establish value and loan value.
But appraisers don't set asking price, and they don't control the sale price. Desireability or sellability (new word) of the house next to the one with the garish paint is affected by the garish paint job, which could result in inability to sell, or the need to lower the asking price to attract buyers.
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Old 10-15-2010, 04:53 AM
 
Location: Collegeville PA & Towamensing Trails
510 posts, read 598,210 times
Reputation: 274
Quote:
Originally Posted by Magritte25 View Post
My logic isn't flawed and where did I name call? ::re-reading:: I see nothing like that.

I am saying that it's dumb and ridiculous to judge a neighborhood value by something as innocuous as foundation color of a home.
Your logic is flawed in that you said a homeowner's morals and ethics are more important to his neighbor's property values than the way the exterior of his home looks. The only linkage I see is if one's ethics include consideration of others, and the effect of one's choices of others. Like the choice of how to maintain the exterior of one's home so that it does not detract from the overall tone of the streetscape as a whole.

As for name calling - a criteria cannot be "ridiculous and dumb ... and hopelessly shallow", only people who would use it can be. You are saying the people who would use the criteria are "ridiculous and dumb ... and hopelessly shallow" because their opinion differs from yours.
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Old 10-15-2010, 05:05 AM
 
Location: Collegeville PA & Towamensing Trails
510 posts, read 598,210 times
Reputation: 274
Quote:
Originally Posted by Magritte25 View Post
Not only that, but wouldn't the appraisal (or shouldn't it) be about property upkeep? Cleanliness? Adherence to city/township laws?
Now you are crossing from "is" to "should", and when you sell a property, you get what you get, not what you "should" get. Appraisals have to do with confirming the value of a home in relation to similar sized homes in the local are, so that the proper loan value can be assigned. They have nothing to do with establishing the price any buyer would pay for that individual property. 100 people might be willing to pay the going price for say, a 3 bedroom 2 bath home in a certain zip code. That is what comps establish and appraisals confirm. But a certain number of those 100 may not be willing to pay the going rate if the house next door is painted garishly, not if they can buy a different home in that same zip code which is not next to what they see as an unattractive house. The market of buyers for that house at the going rate is smaller than for a similar property without the unattractive neighboring property. The property's value has been effected.
If you're talking about desirableness of a certain area as place to make a home, that's one thing. If you're talking about the retail value of a particular property, that is another. The exterior of the house next door or across the street definitely can have a large effect on the latter, while having less effect on the former if the the "exceptional" house is the minority, not the norm.

Last edited by DE_NePA; 10-15-2010 at 05:13 AM..
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Old 10-15-2010, 05:08 AM
 
Location: Collegeville PA & Towamensing Trails
510 posts, read 598,210 times
Reputation: 274
Quote:
Originally Posted by LNTT_Vacationer View Post
Not as if he was getting a classy laundromat, dollar store or even an upscale tattoo parlor or chic nail salon.
You left out the payday loan store. And mod cut is it with nail salon's popping up in every strip mall, all staffed by Asians? I think there may be more behind that than simple entrepreneurship. I wonder about the bankrolling of all these similar businesses popping up like weeds in a short period of time.

Last edited by toobusytoday; 10-15-2010 at 05:17 AM.. Reason: inappropriate language
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Old 10-15-2010, 07:05 AM
 
14,236 posts, read 7,889,080 times
Reputation: 6687
Quote:
Originally Posted by DE_NePA View Post
Your logic is flawed in that you said a homeowner's morals and ethics are more important to his neighbor's property values than the way the exterior of his home looks. The only linkage I see is if one's ethics include consideration of others, and the effect of one's choices of others. Like the choice of how to maintain the exterior of one's home so that it does not detract from the overall tone of the streetscape as a whole.

As for name calling - a criteria cannot be "ridiculous and dumb ... and hopelessly shallow", only people who would use it can be. You are saying the people who would use the criteria are "ridiculous and dumb ... and hopelessly shallow" because their opinion differs from yours.
No, I am not. I am not name calling. Put your defective magic 8 ball away, cuz it's not working. I'm talking about the idea, not the person.

I understand perfectly well the reality of property value assessment. I am simply stating that I find it to be shallow, unrealistic, and not at all valuable in determining the true values of the neighborhood.

Especially when they are based on things like paint color, fence types, etc. It's so silly to me.
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Old 10-15-2010, 11:32 AM
 
548 posts, read 356,577 times
Reputation: 375
Quote:
Originally Posted by IlonaG View Post
Definitely true about neighbors! I have quite a few of those myself new neighbors who during the summer have raucous parties complete with DJ and amplifiers that last till 2 or 3 am. Not to sound like a 'get off my lawn' type because I like a fun party and good times - but I was also brought up to respect my neighbors. Now I'm just so done with all that. I want more nature and I want trees and a garden and wildlife in my yard
Actually I am a "get off my lawn" type, lol. Neighbors do make or break your overall happiness. I continually had to tell my neighbor to stay on his own property since I didn't want to have anything to do with this loser. I finally just notified security about what was going on. They put him on notice about my wishes. My happiness quotient has gone up ever since.
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Old 10-15-2010, 11:35 AM
 
548 posts, read 356,577 times
Reputation: 375
Quote:
Originally Posted by sheena12 View Post
I know what yo mean Ilona and AuntieAnnie - really negative, nasty, wild and low end neighbors can ruin your life. We once had to deal with neighbors who barbeqed and drank on their front lawn. Then they fought. We moved eventually.

I wold also like to add that neighbors who act as thogh they are some sort of self appointed "block captains" who are intrusive and moniter everything that you do are no walk in the park either.

Nor are people who put new comers throgh a sort of hazing experience to see if you are up to their peculiar standard of living.

Neighbors can really make or break where you live.
Sad but all too true in my experience.
Sheena,
Been there, done that. Got the T-shirt!!
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Old 10-15-2010, 12:47 PM
 
996 posts, read 250,600 times
Reputation: 440
Quote:
Originally Posted by DE_NePA View Post
Now you are crossing from "is" to "should", and when you sell a property, you get what you get, not what you "should" get. Appraisals have to do with confirming the value of a home in relation to similar sized homes in the local are, so that the proper loan value can be assigned. They have nothing to do with establishing the price any buyer would pay for that individual property. 100 people might be willing to pay the going price for say, a 3 bedroom 2 bath home in a certain zip code. That is what comps establish and appraisals confirm. But a certain number of those 100 may not be willing to pay the going rate if the house next door is painted garishly, not if they can buy a different home in that same zip code which is not next to what they see as an unattractive house. The market of buyers for that house at the going rate is smaller than for a similar property without the unattractive neighboring property. The property's value has been effected.
If you're talking about desirableness of a certain area as place to make a home, that's one thing. If you're talking about the retail value of a particular property, that is another. The exterior of the house next door or across the street definitely can have a large effect on the latter, while having less effect on the former if the the "exceptional" house is the minority, not the norm.
For the most part, I agree with you.

But I think an appraisal has a bit more effect on what a home will sell for/what a buyer will pay - since the majority of home buyers rely on getting a mortgage to purchase a home - hence the importance of loan value.

I think you are making a mountain out of a molehill when considering a painted foundation as being a deterrent.

If half the street contained run down, dilapidated crack houses, I would give your argument more merit.

On another note, how do you know a prospective home buyer does not like the color orange, especially if the neighbor's house is kept in good shape?

Many folks that want to fit into a cookie cutter lifestyle and hold themselves and their neighbors to a long list of Draconian rules move into communities governed by a HOA...

There is certainly no definite rule of thumb....
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Old 10-15-2010, 05:48 PM
 
Location: Collegeville PA & Towamensing Trails
510 posts, read 598,210 times
Reputation: 274
Quote:
Originally Posted by varmintblaster View Post
For the most part, I agree with you.

But I think an appraisal has a bit more effect on what a home will sell for/what a buyer will pay - since the majority of home buyers rely on getting a mortgage to purchase a home - hence the importance of loan value.

I think you are making a mountain out of a molehill when considering a painted foundation as being a deterrent.

If half the street contained run down, dilapidated crack houses, I would give your argument more merit.

On another note, how do you know a prospective home buyer does not like the color orange, especially if the neighbor's house is kept in good shape?

Many folks that want to fit into a cookie cutter lifestyle and hold themselves and their neighbors to a long list of Draconian rules move into communities governed by a HOA...

There is certainly no definite rule of thumb....
An appraisal sets the high limit on the sale price, it can't enforce a low limit on the offer from a buyer. Two similar houses, in the same zip code. One across from an "ugly" house, one not. All other things being equal, same buyer, which house would they offer more for? How much more or less? I don't know, I never mentioned scale of the effect, only that the effect was real.
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Old 10-15-2010, 06:07 PM
 
996 posts, read 250,600 times
Reputation: 440
An appraisal sets the fair market value of a specific property. A number that the banks rely upon for loan making decisions. Nothing more...

The color of the neighbor's house, will have zero,nada, zilch effect on the value determined by a certified property appraiser.

Ultimate selling price/offers received depend upon the individuals involved and includes factors such as emotion - which do not enter into play when an appraisal is conducted.

I'm not saying you are wrong about the Home & Garden street appeal concept, but you miss the mark when include the effect upon appraised real estate values..
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