Issue 11
Q: The zoning has just changed through the city due to the adoption of HB 1110. I have a listing and the new zoning says six units may be allowed due to proximity to transit. The house isn't really a teardown, so I didn't really push the multi-family development angle in my listing. However, I did suspect that this might be an issue in the appraisal from what I have been hearing. To my surprise, no issue, the appraiser appraised it as is currently stands.
However, my colleague has a listing that is currently pending - same zoning, but it is a different part of the neighborhood - and the appraiser indicated that the appraisal for that property was out of their scope. A commercial appraiser was going to need to be called in, delaying this part of the process. That property was also just listed as a regular house and the buyers are just regular homebuyers. What should we expect moving forward with appraisals?
A. Appraisals are going to become more unpredictable due to Middle Housing...at least until we make our way through these uncharted waters. In our Middle Housing Resource Center Full Access course, we interviewed Kathy Walsh of the Appraisers Coalition of Washington to get her take on what we could expect with appraisals and ADUs and middle housing.
10 Things Real Estate Agents Need to Know About Middle Housing
-FREE VIDEO -
Click below to watch now!
https://www.middlehousinghelp.com/10-things-agents-need-to-know-about-adus-and-middle-housing
Essentially, this is uncharted territory for appraisers, agents, lenders, and buyers and sellers. Appraisals are going to take more time when an ADU is concerned or middle housing potential.
