middlehead
Diamond Member
Because he wouldn't be able to charge as much for a simple solution?
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Metal roofing: Is it worth it?
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FlashG
Platinum Member
A well designed and maintained lightening rod system can help in energy dissipation. Lightening is attracted to metal structures and you need to take that into consideration when you choose a metal roof. You can try to guide its path but you can?t control a direct hit. Please understand that all I am doing is stating my opinion. You can do what you want but just consider what I?m trying to say.
mercanucaribe
Banned
A light colored metal roof shouldn't get any hotter than a dark grey asphalt roof.. and if it's painted white, even better. Green roofs are heavy and not that effective from what I've heard. I've taken classes at the Wildflower Center and one of the things they are doing is experimenting with green roofs.
Gee, never heard that before. I'll accept your resignation and wait for my next opportunity to slap you around.
At this point the valid question of WWYBYWB comes up, but why bother?
Yes. Honestly I have never come across a rate difference due to metallic vs non metallic roof surfaces. I've performed some insurance appraisals in my time and I've never been questioned on the roof surfacing or the siding style.
As far as I'm concerned there is no difference in risk nor a difference in premiums for insurance.
SampSon, Who do you appraise houses for and what is the reason people seek to do business with you?
They do it before they buy a house, right? For the bank to get a mortgage? Also, maybe for insurance reasons?
What does a mortgage or insurance have to do with market price?
I would trust what you say if you were a realtor, but not an appraiser.
The true "value" of a home is what someone would pay for it. Some homes may be appraised at half of what they'd sell for.
You give "safe" market values for corporate purposes, not accurate ones and I contend that metal roofs would increase in value for the same reason remodeled kitchens would.
They do it before they buy a house, right? For the bank to get a mortgage? Also, maybe for insurance reasons?
What does a mortgage or insurance have to do with market price?
I would trust what you say if you were a realtor, but not an appraiser.
The true "value" of a home is what someone would pay for it. Some homes may be appraised at half of what they'd sell for.
You give "safe" market values for corporate purposes, not accurate ones and I contend that metal roofs would increase in value for the same reason remodeled kitchens would.
I'm both an appraiser and a realtor. Though my primary function is an appraiser.
I do appraisals for mortgages, martial situations, any type of loans, market value for portfolios, appraisals for court testimony, land appraisals, insurance appraisals, construction valuation appraisals. I can appraise for anyone who wants an appraisal for whatever purpose they need a true market value on their property for. The appraisal is always based off of the best and most recent market data available so the report will always show the true market value of a property at the exact time of inspection or at a hypothetical time of inspection.
When I appraise is it always for true market value. It is my job to be honest, regardless if the client likes it or not. Sure there are times when you can cater to the client a bit for a value, but you never break ethics laws because you WILL get called on it and trouble ensues. There are no "safe" values if you're an honest appraiser. Sadly the market is saturated with dishonest apprasiers that will do anything to hit the number someone wants.
The price someone wants to pay for a house does not necessarily mean that is what it is worth. I cannot even begin to count the number of loan deals I have killed because the client thinks it is worth much more than it really is. True market value is the actual value a
If you think that a realtor has a better idea of true market value than an appraiser than you are sadly mistaken and know very little about real estate beyond what the masses know. The whole purpose of an appraiser is to give a fair and balanced opinion without any outside influence and conflict of interest. Realtors only have one function, to try and sell a property for the highest value possible in order to make money. They give true market value of a property in it's marketing area very little consideration, because if they did they wouldn't make as much money.
Realtors have very little clue about what appraisers do and how the process works. They also don't care, and for good reason, because all they want to do is make the deals happen and rake in the most cash. I get "market analysis" reports from realtors all the time when I am doing a job for a purachase transaction. Let me tell you it's pure comedy. They only look at the prices of the house, they never take into consideration the style, size, quality, amenities and transaction history. I have never seen a realtor's market analysis that even comes close to pegging the true market value for a home. And that is ok because that isn't their job, they arn't trained or experienced in the legal avenues of valuing a piece of property and it's improvements.
I can tell you that all homeowners think their house is worth more than it really is, and they think the improvements they put into them raise the value much more than it really does. Keeping your house in good shape is expected, so when you repair something that is either damaged, outdated or obsolete you arn't raising the quality and value of your home you are just bringing it back up to average conditionf. Putting a new $10,000 kitchen in your home will not raise it's value anywhere near $10,000. Installing a new $5,000 roof is not going to raise the value of your home $5,000. Homeowners frequently mistake regular updating and maintenece for "upgrades".
Though I am not saying that by updating your house it will not make it more appealing to a buyer. I am saying that from an appraisers standpoint installing updates is required for your house to maintain it's liveability and maketability.
Here is a quick example, I won't get very complicated because it's something I could talk about endlessly. Say you have a home that is worth $100,000 as it stands. The kitchen is worn and from the 1970s, the carpets are old and used, the bathroom older and becoming worn, the roof is 20 years old, and the siding is cedar shake that needs to be replaced. The homeowner of course is going to think "if I do all these upgrades and spend $30,000 the house will raise in value at least $30,000".
Sounds logical right? Well it really isn't all the time. When you compare this house to other houses that are worth $100,000 you find out in that marketing area that they already have an updated kitchen, new flooring, a newer roof, and newer vinyl siding. That is the case in the vast majority of these situations. So when that homeowner dumps that money into the house they are in reality bringing the quality of their house up and equal to the other houses that are currently selling for around $100,000 (take into condsideration size, style and location are basically equal). Sure the house is nicely updated with new stuff, so it may raise in value very little, usually just a couple percent.
Upgrades that go into houses have huge immediate depreciation that no one seems to understand.
The only sitaution where a significant value increase would occur is if the house was totally gutted and the vast majority of it upgraded and "over improved". Though this also takes into account that the house was already in generally average minus to poor shape. Which would make it's market value generally lower to begin with. I constantly have people yelling at me about how they installed this and upgraded that and how their house is worth so much more because of it. I ask them "well if your house already had these "upgrades" would you have paid the extra $30,000 like you just put into it?". The answer is always "well, probably not because I could have bought another house with similar upgrades for cheaper anyway". I say "you're right, you would have, so why would your house be worth so much more then". They never have an answer.
You will almost never truly get your money out of the upgrades and improvements you put into a house. Some people understand that, but most people don't. The people who don't are always the ones that get in WAY over their head financially. The point of putting them in is to make the house livable for you. You are paying to make the house the way you want it so you can enjoy it. The TRUE value of home improvements is called cost in use, it is very important to understand that if you are going to own a home or try to make money from them.
So after all of that you believe me or you don't, but I'm telling you that's the way it is. Also you should take all of this information I took the time to write and remember it when you want to own a home (or if you already do), because it's good information to know and it's coming from the mouth of a professional. People pay me and others a lot of money for this type of information, so consider it a little gift.
Finally, when you want to speak to someone about the value of a piece of property, be it a house, land, cottage, rental, construction or whatever, the best person to speak to is an appraiser not a realtor. I didn't really want to be a total dick to you, but I've played this game all too often on forums. I hope you understand all of what I said and mabey use some of it in your years to come.
:beer:
meltdown75
Lifer
Interesting stuff.
Sampson if you don't mind me asking, what do you think of the assessment body or bodies in your area, and do you have an idea if the property owners in your area feel they are usually assessed fairly?
Curious, and none of my business, but how long have you worked in the appraisal field? You don't have to answer that one.
I've worked with a few different valuation methods in my line of work. Suffice to say I'm glad to be working with strictly replacement cost these days (commercial / industrial properties). I don't get into market value debates with ratepayers, especially on residential properties. I've seen people complain their way all the way to an assessment tribunal and have the value lowered just to turn around and sell it for a ridiculously inflated price... lots of BS out there.
Sampson if you don't mind me asking, what do you think of the assessment body or bodies in your area, and do you have an idea if the property owners in your area feel they are usually assessed fairly?
Curious, and none of my business, but how long have you worked in the appraisal field? You don't have to answer that one.
I've worked with a few different valuation methods in my line of work. Suffice to say I'm glad to be working with strictly replacement cost these days (commercial / industrial properties). I don't get into market value debates with ratepayers, especially on residential properties. I've seen people complain their way all the way to an assessment tribunal and have the value lowered just to turn around and sell it for a ridiculously inflated price... lots of BS out there.
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