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May 28th, 2011 12:33 PM
Yesterday I appraised a shot gun style home in Old Gretna that had just received a thorough interior renovation.  The exterior, to put it plainly, had terrible curb appeal.  Although there were no major problems, the home sat set back from the street with no landscaping what so ever and concrete front steps that needed painting.  The home was selling for a price comparable to fully renovated homes like it in the area.  But there was a problem--the comparable properties were spruced up--the paint gleamed and the landscaping was soothing and peaceful.  When the photograph of the subject is placed next to the comparable photos I'm afraid that something might not seem right to the underwriter considering the deal.  Worse still was that the renters occupying the home were very messy.  Clothes etc. were strewn everywhere.  It's had to compare those photos with the staged photos of the other comparables although really, the mess and a bit of landscaping should have no real effect on value.  But it does have a psychological impact on the viewer.  The owner would have done well to spend a few hundred dollars on trees and flowers and instructed the renter (who was buying the place) to clean up.  It's true, these things should not necessarily impact value, but they might! 

Posted by Joseph Marino on May 28th, 2011 12:33 PMPost a Comment (0)

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