Including Above Grade Area Into Basement or Below Grade Area

[Kozmicbluesman]

For that, I measure like the "appraiser sketch" and not the "my sketch". The garage level is below grade on at least one side. The floor of the entry level is the grade on that side.

It's similar to a ranch but half the house was offset by half a floor. 1 level + basement

The garage is not below grade. The landscaping slopes down to grade level.

 

[Dublin ohio]

That's why there is an exception to ANSI, with explanation.

Could you please post that exception. I seem to have missed it.

 

[J Grant]

The exceptions to ANSI are described as very limited in scope and meant for truly oddball properties and situations.

Let's take two identical houses, house A and house B; they are model matches. Each has 2000 SF above grade and an 800 SF basement below grade; maybe the basement has some small windows near the top of the walls.

In house A, the basement is not finished. RE agents on MLS market it as a 2000 sf house with a basement.

In house B the basement is finished, and the RE agents market it on MLS as 2800 SF. But it is still a house with 2000 SF above grade and 800 SF below grade. The fact that finishing a debasement off in House B added to the value can easily be explained, and I imagine in an area where basements are common one can find comps with a finished basement - and alsocan base an adjustment t partly on cost because how much does not cost to finish a basement off to the level it was done?

 

[residentialguy]

Could you please post that exception. I seem to have missed it.

GXX001... it applies to atypical types of grade with houses. One example (but not limited to) is a berm house.

 

[Dublin ohio]

The exceptions to ANSI are described as very limited in scope and meant for truly oddball properties and situations.

Let's take two identical houses, house A and house B; they are model matches. Each has 2000 SF above grade and an 800 SF basement below grade; maybe the basement has some small windows near the top of the walls.

In house A, the basement is not finished. RE agents on MLS market it as a 2000 sf house with a basement.

In house B the basement is finished, and the RE agents market it on MLS as 2800 SF. But it is still a house with 2000 SF above grade and 800 SF below grade. The fact that finishing a debasement off in House B added to the value can easily be explained, and I imagine in an area where basements are common one can find comps with a finished basement - and alsocan base an adjustment t partly on cost because how much does not cost to finish a basement off to the level it was done?

Basements are the norm around here. Finished basements are somewhat common. But the quality of finish varies greatly. You also have to be careful with what an agent might call a "finished" basement. Painting the concrete walls and laying down a piece of carpet is not a "finished" basement

 

[Dublin ohio]

GXX001... it applies to atypical types of grade with houses. One example (but not limited to) is a berm house.

That exception is only for properties that have no finished living area above grade per ANSI. It is not for the 3 level type home in the examples.

 

[Joe Flacco]

The garage is not below grade. The landscaping slopes down to grade level.

Doesn't matter. And I bet you that house has dirt against the garage wall under that bush.

But it doesn't matter. Let's assume that this house does not have any dirt against that garage wall. If you have the exact same house next door as a comp and that house has dirt on the garage wall, is the garage level basement for the comp but not for your subject?

 

[gregb]

Waiting to see Fannie's schedule for reporting rogue appraisers to state boards for ANSI noncompliance issues. Thankful that VA and my other clients are resisting the rush to ANSI.

 

[residentialguy]

That exception is only for properties that have no finished living area above grade per ANSI. It is not for the 3 level type home in the examples.

False. It says for example, not limited to. Examples are not limitations.

 

[Joe Flacco]

It doesn't matter if the dirt is at 1 or 2. It is still the exact same house.