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HorsieJuice t1_j6np1yf wrote

The article gives enough details about the properties (neighborhood, adjacent street, sell prices and sell dates of it and neighboring properties) that I was able to find them on zillow and redfin in about a minute. I'm not going to give the addresses, but what I could find are:

Subject property: 4 bed, 3.5 bath, 2600 sq ft, 0.26 acre

Neighbor property (that sold for $465k): 3 bed, 3 bath, 2068 sq ft, 0.29 acres

If the Subject Houses were worth the same $/sq ft ($225/sq ft) as the Neighbor, then the Subject House would be worth $585k. While it's a little tough to tell because the pics for the Subject Property aren't very good, the interior finishes and condition appear to be comparable between the two houses, except for the kitchen, which is much nicer in the Neighbor Property. There are no pics of the Subject House's finished basement, but the one in the Neighbor Property looks better than most, so I suspect it has an edge there. The Neighbor House is more attractive from the outside while the landscapings are comparable. It would make sense to me that the Subject House would be appraised at a lower price per sq ft than the Neighbors. How much lower? I'm not sure, but I'd expect no less than $200/sq ft or $520k. IMO, the notion that $550k ($212/sq ft) was "conservative" was wrong - that sounds about right to me. Additionally, the penalty for being directly on Northern Parkway appears to be at least 20%.

$472k puts the subject house at $181/sq ft, which is pretty low, but it's closer than $288/sq ft that the second appraiser put it at, which is nuts. The handful of houses that sell that high are nicer in virtually every way.

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JBG1973 t1_j6p238i wrote

To get to 2078 square feet you have 1750 sq feet above grade and 328 sq feet for a finished basement area. Based on the pictures in the listing this finished basement area is knotty pine walls/tile floor that was being used as a weight room. This 328 square feet is not as valuable as the above ground space in the other house. For reasons I do not understand, the sun room does not appear to be in the listing square feet. In the floor plans in the listing they give the sun room as 14 ft x 9' 7". This would be an addition 134 sq feet of space.

The house that the lawsuit is about is 2600 above grade and 940 sf finished basement. There are no photos of the finished basement in the previous listing, but it does say it has a jetted tub and could be a separate living space.

I generally agree with your analysis, but the size comparison should be 1864 sq ft (giving the sun room) to 2600 sq ft OR 2212 sq ft to 3540 sq ft.

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DolemiteGK t1_j6p3u16 wrote

>the interior finishes and condition appear to be comparable between the two houses, except for the kitchen, which is much nicer in the Neighbor Property

How much difference in the kitchen? This would be a MAJOR factor in value for me - more than equal SF for sure.

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