Appraisals

Obtaining an accurate appraisal for a house that is different from the norm has been “interesting”.  One appraiser exclaimed as I opened the door, “I can’t appraise this house!!” and turned around an walked out.  (He meant because there were no comparables.)  It is a unique house.

Following are Appraisals that were obtained along with a description of the property at the time:

In May and June of 2001, two different appraisers came – One: $200,000 and the other: $210,000.  At that time the house was finished except for the ceilings in the lower level family room and bedroom/office, there had been no final grading of yard and driveway or concrete porches; and included only Lot #16 (1.13 acres) on which the house was built.

In 2009 Jason Kelley, an appraiser from Morristown, appraised it at $257,500.  My husband had installed a suspended ceiling in the above mentioned two rooms; the yard, landscaping and driveways were finished, and we had purchased the adjacent Lot #15 (1.35 acres) for a total of 2.48 acres.  Jason did more “due diligence” as he not only carefully measured the inside of each room, but researched the website;  www.deltechomes.com, to learn about the unique construction methods utilized here and their benefits and to obtain cost to build the house in 2009.   

On June 22, 2015, Tom Green, another Morristown Appraiser,  appraised it at $300,000 with an actual Cost Value of $308,500.