Where Does Finished Basements Count As GLA?

[CindyR]

Yes I do disagree, the first level is not below grade. Tell me why you say it is below grade?

Well, how do you paint the back of the garage?

 

[gregb]

Well, how do you paint the back of the garage?[/QUOTE

Interior or Exterior? Not that it matters regarding whether one can access the exterior wall of the garage. Since you ask, back of the garage is accessible thru a crawl space...

 

[Mile High Trout]

I think this is good advice. My question is, though, how do your clients accept these reports? Do they fight you regarding GLA/basement/below grade, etc?
IMO, as long as you address everything and keep everything consistent between the subj vs comps (GLA vs Basement, etc) you're probably fine, but as you state, "FULL DISCLOSURE" is a necessity I would think

They accept reports based on the maximum allowable rule failure sets within the CU system.

Know your common market standard, and apply that to data reporting, to hopefully be in better alignment with the popular or most prevalent reporting standard.

 

[Mile High Trout]

Oh schnap with the front of home walk out basement. LOL. I don't think the CU system has an entry for that. LOL infinity.

You've officially been CU flagged. They're just reading the correction script now, and even they don't know what they're asking for.

LOL infinity infinity.

https://imagemacros.files.wordpress.com/2009/08/ackbar_fiesta.jpg

Admiral Ackbar. Know your memes.

 

[The Warrior Monk]

This. People get too hung up on calling it GLA. It contributes what it contributes but around here if it isn't actually above grade, it isn't GLA. That includes walkouts that are mostly exposed - sometimes things don't fit in the standard box.

If this is the case, if appraised several houses with 0 GLA.

 

[Stone]

Yes I do disagree, the first level is not below grade. Tell me why you say it is below grade?

The back wall is below grade or am I missing something?

 

[Stone]

If this is the case, if appraised several houses with 0 GLA.

I suppose calling anything GLA you want is fair enough so long as you explain what you are doing. But, don't claim something is above grade when it isn't. That work?

 

[Mr Rex]

If it is more likely that an earthworm will come into contact with any one of the walls than a grasshopper, then the entire floor level is considered below grade.

 

[hastalavista]

Stone & Mike G:

You can call it basement, below-grade, or something else in your market if that is how your market trades, evaluates, and prices it.

I think you should understand in my market, it is GLA. You want to argue with the market; be my guest. My only advice is that you make that argument in your market where you are the experts. Because the market I'm talking about is where I happen to be an expert.

 

[Stone]

Stone & Mike G:

You can call it basement, below-grade, or something else in your market if that is how your market trades, evaluates, and prices it.

I think you should understand in my market, it is GLA. You want to argue with the market; be my guest. My only advice is that you make that argument in your market where you are the experts. Because the market I'm talking about is where I happen to be an expert.

I've already stated that you can go ahead and call it GLA so long as you explain what it is. See the posts above.. But, it is below grade, whether it is counted as GLA in your market or not. The market doesn't decide when something is below grade, the back wall being below grade does. I have no argument with someone not calling it basement if that is how your market deals with it - heck, I'd probably stay away from that term in a lot of reports because people think of basement as not having as much value. But I don't accept that something below grade isn't below grade.

Edit to add - the market decides how it is valued which is where your market expertise comes in to play. That doesn't change the physical state of the lower level being below grade.