Forum Header

Georgia Appraiser Forum

Provided by:   John M. Bryant, Inc., A Georgia Appraisal School

School Calendar | Phone Book | Appraisal Topics | Appraisal Questions | Other Topics

Forum Rules
Online Courses
Appraiser Search
MLS Analyzer


Register Calendar Latest Topics
 
 
 


Reply
  Author   Comment  
Fran

Preferred Member
Registered:
Posts: 19
Reply with quote  #1 
Does anyone use the N.A.D.A.   manufactured home book.  I am completing a manufactured home appraisal and do not have access to the book. It is to late to order the book for this appraisal . I am thinking of using the Builders cost.net . Suggestions?
0
MEP

Avatar / Picture

Platinum Member
Registered:
Posts: 2,821
Reply with quote  #2 
Try the public library, they should have a copy...
__________________
M. E.

"Don't call him a cowboy until you see him ride'
0
Meatloaf

Avatar / Picture

Platinum Member
Registered:
Posts: 2,023
Reply with quote  #3 
Never used NADA.

What do you use for all of your other cost data?

__________________
The AMC is my B!TCH!
0
Tea

Avatar / Picture

Platinum Member
Registered:
Posts: 238
Reply with quote  #4 
Marshall & Swift has a manufactured housing section.

Section 63...
0
MEP

Avatar / Picture

Platinum Member
Registered:
Posts: 2,821
Reply with quote  #5 
Tea, who are you kidding, how many active appraisers have a current copy of M&S. They have all kinds of rational but no M&S.
__________________
M. E.

"Don't call him a cowboy until you see him ride'
0
Meatloaf

Avatar / Picture

Platinum Member
Registered:
Posts: 2,023
Reply with quote  #6 
I discontinued marshall and swift.  Im using craftsman now.  Marshall and swift is owned by corelogic.  Not going to send them any money.  Plus, they are way over priced and way over rated.  Craftsman is cheeeeep and is the source that the us govt relies on.
__________________
The AMC is my B!TCH!
0
johnmbryant

Avatar / Picture

Moderator
Registered:
Posts: 2,656
Reply with quote  #7 
Meatloaf, did you get the disk based version along with the book?  I would like to see a digital file from the disk based version.
0
treskirkland

Platinum Member
Registered:
Posts: 711
Reply with quote  #8 
I have started using DwellingCost.com   I think it is $75/ a year.  Really easy to use and I'm getting very similar figures to M&S.  They don't have manufactured home data yet, but they are supposedly adding it soon, I never do manufactured homes so I don't need it.  Thankfully, my credit card on file with M&S had expired so it didn't auto renew...
0
Meatloaf

Avatar / Picture

Platinum Member
Registered:
Posts: 2,023
Reply with quote  #9 
Quote:
Originally Posted by johnmbryant
Meatloaf, did you get the disk based version along with the book?  I would like to see a digital file from the disk based version.


Its not a disk, its a program you download.  

There is a license code in the back of the book.  It actually sucks.  Very cumbersome.

I like the book.  Its quick, just a few pages.  Gives me a quick number to bullschitilidoitify a cost approach.  Badabing.

Craftsman is the source behind buildingcost.net



__________________
The AMC is my B!TCH!
0
Bobby

Avatar / Picture

Platinum Member
Registered:
Posts: 5,988
Reply with quote  #10 
Quote:
Originally Posted by Meatloaf


Its not a disk, its a program you download.  

There is a license code in the back of the book.  It actually sucks.  Very cumbersome.

I like the book.  Its quick, just a few pages.  Gives me a quick number to bullschitilidoitify a cost approach.  Badabing.

Craftsman is the source behind buildingcost.net




LOL! Nailed it... You know some AI alphabets are drinking it as gospel without understanding what they are doing. I get reviewed by them all the time and wonder why they have not progressed in their continuous study... I guess they learn to be students, employees, and followers.

__________________

"America First".   President  Trump

0
Meatloaf

Avatar / Picture

Platinum Member
Registered:
Posts: 2,023
Reply with quote  #11 
Marshall and swift did a good job selling the cost approach.  They did an awesome job of creating a fear that if you don't use their data and a well supported cost approach your whole appraisal is crap and you will lose your license.  I bought it, gave it a lot of chest thumping... I was a good appraiser, I had the marshall and swift book on my desk.  I didn't make up or fudge the numbers, I was a good appraiser.

Then I built a house.

There is no way to do a cost approach with ANY book or cost manual.  The only way to do a cost approach is to keep writing checks until you have the number you were looking for.

Now, I know for a fact that there is no way a book can be accurate.  No way any software can be accurate.  I give the cost approach NO weight.  Furthermore, the 1004 form states in the certifications that you gave no weight to it.

Now Marshall and swift is owned by corelogic.  So, is it a cost manual or a price manual.  You tell me.  

The cost approach is only good for a new home where you have good support for the land value.  In most instances where you have a new home and a well supported site value, you don't need the cost approach as you have plenty of sales data.

Now, I use craftsman.  Its cheap, easy, and satisfies the STUPID requirement for the cost approach.

__________________
The AMC is my B!TCH!
0
Bobby

Avatar / Picture

Platinum Member
Registered:
Posts: 5,988
Reply with quote  #12 
So based on the sale price, since you have built a house, would you say that the "backing in" approach has some merit with new construction?
__________________

"America First".   President  Trump

0
Meatloaf

Avatar / Picture

Platinum Member
Registered:
Posts: 2,023
Reply with quote  #13 
Quote:
Originally Posted by Bobby
So based on the sale price, since you have built a house, would you say that the "backing in" approach has some merit with new construction?


No.

Think about this.

How much more would you pay to have a house you can move into within 30 days versus finding a lot, hiring an architect, surveying, engineering, searching contractors, finalizing plans, layout, architectural control issues, weather, vandalism, room and board, travel, construction insurance, ETC... ETC... and waiting a year and a half before being able to move in.

The actual cost to the owner is significantly more than the "cost".  For example, during the time from commencement to moving in, I spent neary $40000 in rent, spent three weeks homeless, and lost nearly all my furniture due to moisture damage.... Yep, you can't get homeowners insurance when you don't own a home meaning all your belongings are un-insured.

Additionally, the cost of home owners insurance is unknown until the house is built, the cost of flood insurance is unknown until the house is built.  Prices are constantly changing significantly between suppliers of building materials.

Its an impossible task to estimate the cost of a custom home.

I had architect bids from $2500-$60000.

The soft costs of building a home are significant and we completely blow those off in the cost approach.  but, these are real costs that a potential buyer will face when considering to buy new versus build new.  Some friends of mine just moved into their new house, it was an 8 year process.  You cannot put a price on the REAL cost to build a home.  For me, from day one to move in was nearly 3 years.

__________________
The AMC is my B!TCH!
0
Bobby

Avatar / Picture

Platinum Member
Registered:
Posts: 5,988
Reply with quote  #14 
Of course I didn't mean custom homes....

You can't blame your furniture and rents on the construction cost.

__________________

"America First".   President  Trump

0
Meatloaf

Avatar / Picture

Platinum Member
Registered:
Posts: 2,023
Reply with quote  #15 
Quote:
Originally Posted by Bobby
Of course I didn't mean custom homes.... You can't blame your furniture and rents on the construction cost.


Where does a person building a home live while the home is being completed?  Under a bridge?  If the home was already complete, they would live in the home.  This is a real expense.  In my case, I lost furniture.  In the case of many people who custom build, they lose something of value.  Furniture damage, storage costs, clothes, pets, etc.  In the case of many people I know who have custom built, they often move more than once during the construction period due to missed completion date estimates.  

This is a real cost.  your builder says it will be finished by Nov 1.  You tell your landlord you will be out by 11/1.  He rents your apartment and new tenants are guaranteed the place on 11/5.  Now you got to go find a place to live for who the hell knows how long.  Who do you know that will rent a place on a month to month basis?  My leases were always 12 month minimum.  Then you have damage deposits, utility connection fees, the list goes on and on.  Lets don't even talk about lost income due to lost productivity with work.

Marshall and swift cannot determine what it actually costs to build a house.  No one knows the final figure on my house except me.  It ain't public record so how does M&S get the data?  They make it up and sell it as the gospil.

Spec houses are easy, the builder builds it, you buy it and move in.  But a custom house on an owned site has significant soft costs that must be accounted for when considering the cost new versus the market value as-is.  



As far as "backing in".... Well lets just say that my value is approximately 50% higher than my actual hard costs.  Maybe that extra 50% is the headache factor that I have been referring to.





__________________
The AMC is my B!TCH!
0
pnalley

Avatar / Picture

Platinum Member
Registered:
Posts: 1,494
Reply with quote  #16 
best word ever! bullschitilidoitify
__________________
Paula Nalley
0
Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Appraisal Topics | Appraisal Questions | Other Topics