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I have never ever had pressure from a bank to be conservative in a valuation.
I have had plenty of pressure from bankers to be more generous in my figures to make their deals work.
Having used to work in a bank - we actually stopped using some valuers because they were 'too' conservative. We could never get a deal through with them.
That is a surprise Blacky!
How do you assign a value for good views (specifically overlooking a reserve) all other things being equal?
Compare two houses that differ only in their views. Is there a price difference? Can the difference in price be attributable to the view?
The net result of this is likely to be a consolidation of the larger firms and the elmination of smaller valuation firms. I guess the natural progression from there would be an increase in the cost of valuations
On another note, I've also seen instances (such as Perth) where their value (cal bungalows) carry no added value at all? Might this be because they are not representative of the area?
Cheers
B.D
i use to have a cal bungalow on 1000sqm in floreat with city views. Sold it only 10 years ago and convincing anyone at the time that the house had character and that the views were worth something was next to impossible. it also had a granny flat that allowed double rent... again there was no value seen in it. Arghh... wish I had kept that one! (btw, was resold about 6 years later for an extra $1.2m with a mid level reno)
such a pain to service it
pool only add values if the buyer thinks it adds value
such a pain to service it