Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > Urgent - Help Needed
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 12-11-2003, 11:09 AM
Tracey Mizell Tracey Mizell is offline
 
Join Date: Feb 2003
State: Louisiana
Professional Status: Appraiser Trainee
Posts: 3
Default

We are having a "debate" with a local realtor over the living area of a house. Here's the deal: The house has a 3 car garage in which a portion of the garage has been enclosed and is heated & cooled with its own unit (does not share with house). This area is not accessible from the main house. Would this area be considered part of the living area for the purpose of appraising the home??

Thanks for a quick answer!!!!

Tracey Mizell
Carlock & Associates
Baton Rouge, Louisiana
Sponsored Links

  #2  
Old 12-11-2003, 11:13 AM
Dave Smith's Avatar
Dave Smith Dave Smith is offline
 
Join Date: Jan 2002
Location: Sister Bay, Door County, Wisconsin
State: Wisconsin
Professional Status: Certified Residential Appraiser
Posts: 1,564
Default

No! No! No!
  #3  
Old 12-11-2003, 11:17 AM
Tracey Mizell Tracey Mizell is offline
 
Join Date: Feb 2003
State: Louisiana
Professional Status: Appraiser Trainee
Posts: 3
Default

So this area IS NOT part of the living area??? I say it is not but this realtor spoke to someone else this morning in another firm that told her since it is heated & cooled, it is part of the living area.

Thanks,
Tracey
  #4  
Old 12-11-2003, 11:22 AM
Soar Ohio Soar Ohio is offline
 
Join Date: May 2002
Location: Ohio
State: Ohio
Professional Status: Certified Residential Appraiser
Posts: 180
Default

When your feet stick to the carpet and you feel like bugs are crawling on you. That is my definition of gross living area.
  #5  
Old 12-11-2003, 11:34 AM
Dave Smith's Avatar
Dave Smith Dave Smith is offline
 
Join Date: Jan 2002
Location: Sister Bay, Door County, Wisconsin
State: Wisconsin
Professional Status: Certified Residential Appraiser
Posts: 1,564
Default

Tracey:

Go to the top of this page and click on "Appraiser Links", then go the Federal Government Resources and click on ANSI for more than you ever wanted to know about calculating GLA. Also search the Fannie and Freddie guidelines. The fact the space is not directly accessible from the house is the problem with including it in the GLA.
  #6  
Old 12-11-2003, 11:44 AM
KD247's Avatar
KD247 KD247 is offline
 
Join Date: Jan 2002
Location: Left Coast
State: California
Professional Status: Certified Residential Appraiser
Posts: 1,757
Default

Most appraisers would agree that, at a minimum, "living area" must be contiguous to, and at the same elevation as, the home's main living area (in addition to being finished, ventilated, and heated). However there's no widely accepted clear-cut definition. ANSI standards are the most clearly defined, but (in this case) they are not widely accepted. Every market has a different concept of exactly what comprises GLA, and it can be misleading if you're the only one using the "correct" definition.

The answer to your question depends partly upon your reason for asking. If you are appraising this home, your report will be clearest if the garage-room is dealt with as a separate amenity. (Treating it this way will not affect your estimate of value). If the broker is trying to decide what number to publish in the MLS, it might be appropriate to include the extra space if they're following a well known and consistently used local convention. A property's owner would probably include it, just for bragging rights.

There's no "right" answer, but it would be a very small minority of appraisers who would agree with the real estate agent. Conversely, it's possible that nearly 100% of all real estate agents trying to promote the property would want to include the extra room in their published GLA.
  #7  
Old 12-11-2003, 11:53 AM
Carnivore's Avatar
Carnivore Carnivore is offline
 
Join Date: Jan 2002
Location: Queen City
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 12,768
Default

Tracey,

Think about how your market would respond to this really nice mother in law apartment in the garage.

Would they pay more for this or would they penalize it for not being consistent and conforming to the neighborhhod. Would your typical buyer want a two stall garage or would they want one stall with a party room for bad husbands?


hmmmmmm
  #8  
Old 12-11-2003, 11:54 AM
Travis McGee Travis McGee is offline
 
Join Date: Sep 2004
Location: Slip F-18, Bahia Mar, near Fort Lauderdamndale

Posts: 1,152
Default

Why are you discussing this with realtors? I don't care what realtors say, we have our own definition of living area, they may think differently who cares what they think? Is their name on the appraisal? I thank them for their imput and get off the phone and do my own thing. Living area typically has access through main house, etc. Sounds like this is not , also doubt if it was even permitted garage conversions typically are not.
  #9  
Old 12-11-2003, 12:01 PM
Roger R. Patzold Roger R. Patzold is offline
 
Join Date: Jan 2002
Location: Cleveland, Texas near Houston
State: Virginia
Professional Status: Certified Residential Appraiser
Posts: 564
Default

For me to call it living area it must have the same heat and air and be accessible from the main living area without having to go outside the main living area. Porches, garages, breezeways, etc are outside the main living area. If above the garage the stairs must be heated and cooled same as the main living area and have direct access from the main living area.

If I have to go outside the main living area and I feel comfortable it can be considered not to be income producing I usually try to call it dettached living area and adjust for it as contributing value but not as living area.

Hope this has helped.

rpatzold@aol.com

Please join me in a prayer for all those who are going to be far from Home this Christmas season defending our freedom's
<><
  #10  
Old 12-11-2003, 12:45 PM
Pamela Crowley (Florida)'s Avatar
Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
Join Date: Jan 2002
Location: Wherever We Are Parked
State: Florida
Professional Status: Retired Appraiser
Posts: 25,254
Default

NO

I absolutely would not count it in the GLA.

I would count it on a separate line item.
__________________
All that is necessary for the triumph of evil is that good men/women do nothing.
Fight Back!
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 04:31 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93