Willing buyer and seller, each having knowledge of the marketplace, neither

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Nov 24, 2020
10:22:45am

StarMan All-American

Willing buyer and seller, each having knowledge of the marketplace, neither

being under duress. That's FMV. While appraisers are very typically right in their art (based on scientific principles), they sometimes struggle in valuing a sale that meets all the criteria of the definition of "Fair Market Value" in an appreciating market.

This message has been modified

Originally posted on Nov 24, 2020 at 10:22:45am

Message modified by StarMan on Nov 24, 2020 at 10:23:28am

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StarMan

Previous username: ByuMba90
Bio page: StarMan
Joined: Jan 15, 2001
Last login: Apr 28, 2024
Total posts: 90,748 (5,656 FO)

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Messages

Author

Time

A modest tract home in Logan now goes for $650k? I’m ready to call this a bubble

Mrs Featerbottom

11/23/20 10:13pm

It’s definitely a bubble. Trouble is knowing when the catalyst to deflate comes

Big Daddy D

11/23/20 10:17pm

Agree. It’s completely bonkers these days to me.

cougfanz

11/23/20 10:17pm

30 year rates could be in the 1's in 2021

grosven

11/23/20 10:17pm

In what world is 4000 sq ft and a 3 car garage considered a modest home?

Pickett

11/23/20 10:18pm

The CB dentist world.

John Doe

11/23/20 10:21pm

Not this CB dentist. That's big.

unctoothman

11/23/20 10:36pm

TNT called for a Friday appointment and they just laughed at him

TNT

11/23/20 11:18pm

There’s not one tree, no deck or reasonable patio, and it’s a fishbowl.

Mrs Featerbottom

11/23/20 10:22pm

It's still 4000 sq ft of finished living space. That is not modest. It is

Pickett

11/23/20 10:25pm

I mean warehouse has plenty of living space. Doesn’t mean it has any quality.

Mrs Featerbottom

11/23/20 10:50pm

My thoughts exactly. That's an enormous house for the majority of America.

CougarTailDevourer

11/23/20 10:30pm

It’s big but low in quality and style

Mrs Featerbottom

11/23/20 10:35pm

It's not high-end, custom finishings but still plenty nice

11/23/20 10:59pm

Agree. That’s a gorgeous house.

Penske Material

11/23/20 10:36pm

Doesn’t it bother you that they just slap stone on the front and not the sides?

Mrs Featerbottom

11/23/20 10:41pm

Come on. People can’t buy their way out of poor taste.

valleus

11/24/20 8:36am

This is an eternal truth

Mrs Featerbottom

11/24/20 9:03am

No, maybe I want to start with something plain and customize it how I like.

Penske Material

11/24/20 8:59am

it's the awesome landscaping that bumps up the value.

squidmark

11/23/20 10:18pm

Seriously, not a single tree on the property

Mrs Featerbottom

11/23/20 10:20pm

How many trees would salve your soul in this matter?

StarMan

11/23/20 10:25pm

I prefer a lot of greenery but apparently my taste is high brow

Mrs Featerbottom

11/23/20 10:30pm

Maybe? Utah is a desirable place. I would not be surprised to see higher prices

diluigifan

11/23/20 10:20pm

California has been that way for years. If people keep paying for them and

Garduno

11/23/20 10:20pm

I'm afraid it's just as likely that Utah has just been artificially cheap and we're starting to reach fair market value.

NihonCougar

11/23/20 10:24pm

I wouldn't say that's modest. 4k sq ft with lots of high end finishes. Not to mention you pay a bit of a premium

Pimpin4Paradise

11/23/20 10:24pm

$162 seems outrageous for that type of house.

Mrs Featerbottom

11/23/20 10:28pm

I definitely think we have a bubble. Sustained low rates will do that. The question is will this bubble pop or have

Pimpin4Paradise

11/23/20 10:30pm

Who? Californians. That’s who.

11/23/20 10:32pm

No bubble. Supply is low and will remain low until we get more houses built.

GoTeam

11/23/20 10:33pm

People are fleeing covid restricted states for open states like Utah, home

Lakerone

11/23/20 10:36pm

Is Utah open??

BkPolyDine

11/24/20 12:25am

My kids are all in school in north Utah county

Lakerone

11/24/20 6:59am

It wouldn't appraise for that. I wouldn't appraise it for that anyway. The

Undefeated

11/23/20 11:13pm

It’s 6/4, 4000 sq ft, nice finishes, 0.3 acres...

DocTerminus

11/23/20 11:26pm

Except the appraiser dude above said it isn’t market price

WDaddy

11/24/20 7:01am

Willing buyer and seller, each having knowledge of the marketplace, neither

StarMan

11/24/20 10:22am

Modest house? Whoa. We have crazy different definitions of that word.

nslcougar

11/24/20 4:30am

I see a 2100 sqft for $290k. New 2200sqft going for $350k. Seems reasonable.

valleus

11/24/20 8:34am

Old 2200 Sqft homes in Orem are going for 340k.There's not enough inventory in

CougarTailDevourer

11/24/20 8:49am

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