You little beauty!!! woooohooooo *jumps high in the air*
Valuation came in at $260 K
I am soooooo excited you have no idea
Waiting for uncondtional either tomorrow or middle of next week
Help - Valuation tomorrow ?
- Thread starter Alex P Keaton
- Start date
You little beauty!!! woooohooooo *jumps high in the air*
Valuation came in at $260 K
I am soooooo excited you have no idea
Waiting for uncondtional either tomorrow or middle of next week
Congrats Kim
Just what you needed ;-) good on ya
Udercoversports.. yes that is a perfectly legitimate valuation methodology .. called the hypothetical development approach or in Australia the Turner model.. that is one way of valuing this property it with appropirate allowances for profit and risk.
RumpledElf, you have basically described the summation approach as proportunity said, which is how I would value this property.
I would anaylse other sales in the area and back out a land value for them then value to land component of this church then I would add back the dwelling at an appropriate rate.
It is basically how valuers value most of the time and works well as land appreciates so rising markets are captured in the land value and buildings depreciate so you use higher rates for renovated dwellings.
In this case the Church should be a pretty decen tshell, put in a few internal walls,and maybe a false ceiling, plumb in a bathroom and kitchen and hey presto, $40k later you have a nice little house that you can rent out. Basically a character dwelling renovated inside.
cheers
RightValue
RumpledElf, you have basically described the summation approach as proportunity said, which is how I would value this property.
I would anaylse other sales in the area and back out a land value for them then value to land component of this church then I would add back the dwelling at an appropriate rate.
It is basically how valuers value most of the time and works well as land appreciates so rising markets are captured in the land value and buildings depreciate so you use higher rates for renovated dwellings.
In this case the Church should be a pretty decen tshell, put in a few internal walls,and maybe a false ceiling, plumb in a bathroom and kitchen and hey presto, $40k later you have a nice little house that you can rent out. Basically a character dwelling renovated inside.
cheers
RightValue
thanks mate
im on such a high
Yay, Only just caught up to your problem and now problem solved!
Congratulations.
Regards JO
thanks, everything is working out very nicely. *phew*
congrats Kim
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