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#396769 - 08/04/05 05:19 PM Commercial parking lot?
RR Becca Offline
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RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
Does this count as "nonfarm, nonresidential real estate" for reporting purposes? I'm stumped.
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#396770 - 08/04/05 06:41 PM Re: Commercial parking lot?
CRAatBOK Offline

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Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
I assume you are talking about a piece of land that has been improved with some type of structure. If so, I would classify it as commercial RE.
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#396771 - 08/05/05 04:01 PM Re: Commercial parking lot?
RR Becca Offline
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RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
No structure, just pavement, curbs, gutters, and a sign saying something about who can park there and who can't. A nearby office complex leases it from our borrowers.
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#396772 - 08/05/05 05:40 PM Re: Commercial parking lot?
CRAatBOK Offline

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Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
I would still consider that improved and Commercial RE
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#396773 - 08/06/05 05:59 AM Re: Commercial parking lot?
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
If it's generating income, and it's not a dwelling, then it's commercial real estate.

Likewise a rock quarry is non-farm, non-residential property. Dawnie and I have both run into these before.

(The loans - not the quarries!)
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#396774 - 08/08/05 05:24 PM Re: Commercial parking lot?
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
I'm with KC and Bonnie. Commercial real estate, improved.

And don't run into rock quarries they're very hard!
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#396775 - 08/08/05 05:34 PM Re: Commercial parking lot?
RR Becca Offline
Power Poster
RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
LOL! OK, thanks ladies! I'll break the bad news to the LO that he's got to get me some more info....
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#396776 - 08/09/05 12:29 AM Re: Commercial parking lot?
CRAatBOK Offline

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Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
Becca, you are just going to have to get a bigger whip. Those LO's need to be tamed.
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