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Old 10-04-2019, 08:37 PM
 
Location: San Francisco Bay Area
4,932 posts, read 2,681,726 times
Reputation: 9725

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Quote:
Originally Posted by emm74 View Post
Historically, they were a small separate outbuilding with a fireplace so that people (usually meaning servants or slaves) could continue to cook and do laundry with heated water over the summer without overheating the main house.

These days, I think the term was probably meant to refer to those sometimes very elaborate outdoor kitchens with a giant grill, outdoor fridge and other amenities. Far outside the price range for the vast majority of people

https://www.hgtv.com/design-blog/out...et-you-outside
I can't decide which of those I hate most.

I certainly wouldn't pay extra for any of them.
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Old 10-05-2019, 07:27 AM
 
10,760 posts, read 12,668,930 times
Reputation: 15272
Quote:
Originally Posted by MaryoVilla View Post
Mike, thank you. Exactly my point when it comes to appraising new custom home, I felt a little frustrated because it seems like there is no system in place to account for things I've added. I have some marble countertops, but yet no value for that, it just doesn't make sense. I've looked the other comps, one has not been live in for 10 years and has not been maintained but that was used as comps, how come? In the end, we will enjoy the home, I just feel like I'm getting robbed left and right lol.


Appraisers use neighboring home sales as "comps" so they have something to go on for your appraisal. Unfortunately they will be forced to use low sales as well as high sales to be close to accurate. Remember on the loan the bank doesn't want to get stuck with your house when you can't sell it for the mortgage payoff.

This is a classic example of appraiser FAIL. At one time it was listed for 30 million despite the house directly next door asking 1.2mm

Lots of custom touches........
https://www.propertypanorama.com/ins...lr/RX-10529355
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Old 10-05-2019, 08:13 AM
 
Location: Phoenix, AZ > Raleigh, NC
15,320 posts, read 19,499,620 times
Reputation: 24791
Quote:
Originally Posted by MaryoVilla View Post
Mike, thank you. Exactly my point when it comes to appraising new custom home, I felt a little frustrated because it seems like there is no system in place to account for things I've added. I have some marble countertops, but yet no value for that, it just doesn't make sense. I've looked the other comps, one has not been live in for 10 years and has not been maintained but that was used as comps, how come? In the end, we will enjoy the home, I just feel like I'm getting robbed left and right lol.
As I understand it, the function of an appraisal is to approximate the price another buyer would pay for your house. It's current market value. And a lot of those "amenities" valueless to a potential buyer - or are outright negatives.

Let's say I'm the potential buyer. I think a safe room is a ridiculous waste of space and money. I pay $40/year for a bank safe deposit box. Marble? I prefer granite or quartz. Unless I'm in Florida, I really don't care about The cover on the pool. In fact, I don't even want the pool. All that wiring? I don't even know what it's for. I'm happy with Wi-Fi. Smart home? Installed it ourselves at a minimal cost. Expensive ceiling lights? It might encourage me to buy your home instead of another, but I can't imagine paying extra for it. Theater room? If I want one, it has value. But I don't want one; in fact, it would negatively affect my interest in buying your home (ESPECIALLY if it's in the basement!). Etc etc etc

Yours insurance appraisal is where these "amenities" should be included - in the replacement value of your home.
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Old 10-05-2019, 09:51 AM
 
Location: Western Washington
9,487 posts, read 8,733,117 times
Reputation: 16356
Quote:
Originally Posted by City Guy997S View Post
This is a classic example of appraiser FAIL. At one time it was listed for 30 million despite the house directly next door asking 1.2mm

Lots of custom touches........
https://www.propertypanorama.com/ins...lr/RX-10529355
Horrifying. I would have to buy the interior and redo it completely. Luckily I am not in the market for a 12,000 sf home.
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Old 10-05-2019, 06:31 PM
 
467 posts, read 419,217 times
Reputation: 1242
Quote:
Originally Posted by SOON2BNSURPRISE View Post
Now I need to know: What is a summer kitchen?
As mentioned earlier, outdoor kitchen is probably a better descriptive term. In my area in Florida, we call them summer kitchens.

They are very popular and are common in homes of all price ranges. They range from basic, built-in grill to the elaborate grill, oven, refrigerator, sink, smoker, etc. and bar with seating for half a dozen people.

Now that I think about it, it should probably be called a winter kitchen in Florida, as that's when they are actually used!
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Old Yesterday, 07:31 AM
 
Location: NC
6,768 posts, read 8,334,328 times
Reputation: 14156
Quote:
Originally Posted by Spokaneinvestor View Post
In our area also referred to as an “outdoor kitchen”. Not sure how an appraiser looks at outdoor kitchens but in our area buyers are lukewarm on them because they tend to look run down after a few years of weather damage to appliances etc. Had a property in Newport OR on the beach with a outdoor kitchen - sea salt in the air, rain and sun made it look derelict in about 18 months.
When i was in the NE a summer kitchen was found on historic properties. It was a real room with windows and a ceiling but not heated and often quite charming with white painted furniture. So traditionally a summer kitchen is not like an outdoor barbecue kitchen at all.
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Old Yesterday, 09:17 AM
 
Location: MID ATLANTIC
7,797 posts, read 18,947,072 times
Reputation: 8554
I just checked the two I have done in the past 5 years two different states, different parts of the country. One was called "bonus" storage room and was in finished upper level. The other was below grade. The one below grade was included in below grade finished area and called a storage room.

In both cases they were included with no additional value. Had the homeowner had not pointed them out to me, I would never have noticed.
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Old Yesterday, 10:11 AM
Status: "Hard Money Lender " (set 10 days ago)
 
269 posts, read 56,378 times
Reputation: 510
Quote:
Originally Posted by luv4horses View Post
When i was in the NE a summer kitchen was found on historic properties. It was a real room with windows and a ceiling but not heated and often quite charming with white painted furniture. So traditionally a summer kitchen is not like an outdoor barbecue kitchen at all.
Right and that is why I conditioned my original remark by saying “In our area”. Our area is NOT the North East or New England. The original thread was related to new builds which would exclude historic properties. In the west and in new builds, you will see summer kitchen and outdoor kitchen used interchangeably.
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Old Today, 08:36 AM
 
Location: Living on the Coast in Oxnard CA
15,997 posts, read 27,182,290 times
Reputation: 20937
Quote:
Originally Posted by frankrj View Post
The central CA coastal area is very under-rated. Yes, it has nice and pleasant weather with less traffic and less pollution than NorCal and SoCal. I was looking for a home in Santa Maria in 2005 and now there's nothing below $400k.
We have friends that moved up to the Central Coast from Oxnard and yes prices are high, but cheaper then in Oxnard.
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