Appraisers' Free Forum

Jim Plante · by **Jim Plante** on Thu Oct 11, 2007 4:00 pm

Judging only from what has been posted, including the pics:

1) I want it! Man, that's a pretty Victorian.

2) HBU is an interim use as SFR. The HBU summary in the report should address the reasonable probability of a zoning change to some commercial type that would accommodate a C-store.

A LOT would hinge on how probable that zoning change might be. If it's pretty much a slam dunk, then you have to do the math: Move the existing house, build the c-store, and figure out how much money you'd make doing that, versus what you could sell it for as an SFR.

Moving a house that big would cost about $50K (WAG) depending on the distance. (If you even THINK about demolishing that lovely Victorian, you are evil, and must be destroyed!)

benluby · by **benluby** on Thu Oct 11, 2007 4:02 pm

Well, Jim, I must be evil. I was calculating how much it would cost to rent a bulldozer and a couple of hoppers for a few days...

Jim Plante · by **Jim Plante** on Thu Oct 11, 2007 4:07 pm

GAWD! Just when I was starting to like you. Now I have to have you killed.

Your hit man will arrive between 12:00 and 5:00 PM next Monday. Please arrange to be available.

benluby · by **benluby** on Thu Oct 11, 2007 4:11 pm

I'll be here. I didn't say the house wasn't pretty, just that it is way more house than I would want, and I would want my 7-11 started ASAP.
And tell him he better not miss the first time.

benluby · by **benluby** on Thu Oct 11, 2007 4:12 pm

Between 12 and 5? What does this guy do, work for the cable compnay?

Jim Plante · by **Jim Plante** on Thu Oct 11, 2007 4:13 pm

No sweat. If he misses or only wounds you, I get my money back.

Joker · by **Joker** on Thu Oct 11, 2007 4:16 pm

You shouldn't pay in advance, but on a contingency basis. More money for a more painful demise.

benluby · by **benluby** on Thu Oct 11, 2007 4:21 pm

If he only wounds or misses, he won't be around to give you your money back, as I don't miss. But it's nice to see Jokey offering to pay extra to see me die painfully.

Bill Caudell · by **Bill Caudell** on Thu Oct 11, 2007 4:22 pm

Joker wrote:You shouldn't pay in advance, but on a contingency basis. More money for a more painful demise.

Would the hit man accepting the assignment on a contingency basis make him unethical?

Goodpasture · by **Goodpasture** on Thu Oct 11, 2007 4:25 pm

Is there a copy of the Uniform Standards of Professional Assassination Practice available?

benluby · by **benluby** on Thu Oct 11, 2007 4:26 pm

Goodpasture wrote:Is there a copy of the Uniform Standards of Professional Assassination Practice available?

Yes, but you have to know the secret handshake. :Marty:

Jim Plante · by **Jim Plante** on Thu Oct 11, 2007 4:27 pm

I don't have to worry about getting my money back. I'm going through a HMC (Homicide Management Company). W/r/t the 12:00-5:00 time frame, I think the HMC is owned by Time-Warner. I'm getting the lowest price and the fastest turnaround time in the industry.

benluby · by **benluby** on Thu Oct 11, 2007 4:32 pm

Jim Plante wrote:I don't have to worry about getting my money back. I'm going through a HMC (Homicide Management Company). W/r/t the 12:00-5:00 time frame, I think the HMC is owned by Time-Warner. I'm getting the lowest price and the fastest turnaround time in the industry.

Then I'm in trouble. Those guys send out a broadcast fax. I'll have fifty people that saw The Replacement Killers driving around with a gun they bought at the pawn shop.

Edd Gillespie · by **Edd Gillespie** on Thu Oct 11, 2007 4:43 pm

Goodpasture wrote:
Edd Gillespie wrote: For a 1004 you stop with the research and report of what is happening and do not predict what will happen.

so you don't comment on what could have an effect on a property should it go into foreclosure? Not saying it has a significant effect of value and may not affect the investment quality of the loan, but shouldn't a [s]possible[/s] probable alternate usage be reported and leave the decision concerning it's affect on the loan to the underwriters?

Although I sense a trap, I think if the client wants to know what is going to happen in the future they will not be ordering a 1004, but seeing the gypsy with the gold capped tooth. Now if you go out there and you find that enough change has occurred already that the 1004 is inappropriate then you tell the client and renegotiate the assignment or turn it down. Generally the only foreclosure loss I can predict is the one that occurs immediately following the closing and I'm not to sure about that. Beyond that and I don't know what the hell might happen. Who knows there might be an announement next week that all of the traffic is being rerouted over the river bridge and the feeders are being abandoned. It's enough to keep up with what is happening than to guess at what might happen. Now if you got a land use plan that says commercial is going to go in the ner future then you are working with an interim residential use and H&BU is hold for development.

Incdentially, I think it is some sort of a crime to abandon and possibly demolish that beautiful house. The zoning for it should be always so it can stay as it is. Take progress and put it somewhere else. It should be preserved and the streets should be moved and any development around it should be done so that the house is not discturbed. Oh gawd, I sound like Ter and like him my opinions of that kind will not find their way into the report either.

Joker · by **Joker** on Thu Oct 11, 2007 4:44 pm

Did your Murder Broker contact the HMC for you or did you engage them directly?

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