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Double Lines
November 19th, 2011 2:37 PM
Hi all, time to blog again with a mini break in the action. Do double lines on a street automatically constitute external obsolescence of the subject property location? For starters, the Department of Transportation in your state designates which roads and streets are primary roads, secondary through routes, etc due to traffic patterns recently measured through their various methods of data collection. If the street has a double line painted on it, most likely there is enough traffic on that street to influence external obsolescence and a subsequent adjustment on the sales grid. However, there can be instances where this adjustment may be minimal or none. One instance can be the location of the subject property dwelling in relation to the road. If the dwelling is set far back from the road, this could be an instance where traffic is hardly noticeable. Another instance could be that prospective buyers WANT and DESIRE to live on prestigious streets in a wealthy town (Greenwich, CT for example!) that do have double lines on them. In these cases, the appraiser should clearly convey this information to his or her client. Happy Thanksgiving to all. JB 

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Posted by Jack Boyles on November 19th, 2011 2:37 PMPost a Comment

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