Comments on: Writer seeks clarification on Florida valuations http://livingwithyourplane.com/2009/06/02/writer-seeks-clarification-on-florida-valuations/ The nation's source for residential airparks Tue, 06 Dec 2011 04:47:51 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bill Tison http://livingwithyourplane.com/2009/06/02/writer-seeks-clarification-on-florida-valuations/comment-page-1/#comment-975 Bill Tison Tue, 02 Jun 2009 19:32:47 +0000 http://livingwithyourplane.com/?p=847#comment-975 I'm a Realtor of 35 years in Palm Beach County, FL having lived in an airpark since 1987 and sold airpark homes all over the State. The quickest way to solve this is go to the Volusia County Property Appraiser's website, http://webserver.vcgov.org/vc_search.html and look up your parent's house (and hangar). You should see the hangar noted as the second building structure. There may not be a value, but this is the data the appraiser uses to calculate value. A follow up phone call to (386) 775-5257 might get you to someone who can give you the appraised value of the hangar. Rest assured, your parents are paying taxes on the hangar and can borrow money based on the hangar's value. As Lenny says above, a buyer will pay a significant premium to buy a house with a hangar on a taxiway that leads to a runway. Bill Tison RE/MAX Advantage Plus Willis Gliderport Boynton Beach, FL Bill@Tison1.com I’m a Realtor of 35 years in Palm Beach County, FL having lived in an airpark since 1987 and sold airpark homes all over the State.

The quickest way to solve this is go to the Volusia County Property Appraiser’s website, http://webserver.vcgov.org/vc_search.html and look up your parent’s house (and hangar). You should see the hangar noted as the second building structure. There may not be a value, but this is the data the appraiser uses to calculate value. A follow up phone call to (386) 775-5257 might get you to someone who can give you the appraised value of the hangar.

Rest assured, your parents are paying taxes on the hangar and can borrow money based on the hangar’s value. As Lenny says above, a buyer will pay a significant premium to buy a house with a hangar on a taxiway that leads to a runway.

Bill Tison
RE/MAX Advantage Plus
Willis Gliderport
Boynton Beach, FL
Bill@Tison1.com

]]> By: Mike Arman http://livingwithyourplane.com/2009/06/02/writer-seeks-clarification-on-florida-valuations/comment-page-1/#comment-974 Mike Arman Tue, 02 Jun 2009 19:12:29 +0000 http://livingwithyourplane.com/?p=847#comment-974 Lenny Ohlsson is absolutely correct. Whoever told your parents that the hangar and runway access doesn't add value to the property has no idea what he is talking about. I'd suggest you find another appraiser/lender/mortgage broker/whatever who knows a little more about air park properties. Spruce Creek is the Gold Standard for fly-in properties, without the air strip, it would be just another residential subdivision and the values would be significantly lower. I live at a smaller air park just south of Spruce Creek - without the airstrip, my home would only be a house somewhere out in the woods. I've been a mortgage broker and in banking and finance for over 15 years, so I can say that being on a air strip DEFINITELY increases the value of the property. Best Regards, Mike Arman N150EM Lenny Ohlsson is absolutely correct. Whoever told your parents that the hangar and runway access doesn’t add value to the property has no idea what he is talking about.

I’d suggest you find another appraiser/lender/mortgage broker/whatever who knows a little more about air park properties. Spruce Creek is the Gold Standard for fly-in properties, without the air strip, it would be just another residential subdivision and the values would be significantly lower.

I live at a smaller air park just south of Spruce Creek – without the airstrip, my home would only be a house somewhere out in the woods.

I’ve been a mortgage broker and in banking and finance for over 15 years, so I can say that being on a air strip DEFINITELY increases the value of the property.

Best Regards,

Mike Arman
N150EM

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