Joe Flacco
Elite Member
- Joined
- Jul 31, 2013
- Professional Status
- Certified Residential Appraiser
- State
- Maryland
What a terrible layout. Even the floor plan without the sun room addition is strange.
1951That is a weird floorplan, even without the addition. What year was this house built?
Yes, you have to truthfully sketch and describe the property for what it is: a two-bedroom that used to be a three-bedroom and was modified , with a den a possible flex use as an additional bedroom.Subject: ~2500 SF GLA 1 story with no basement. Appears to originally of been built as a 3 bedroom, but a rear addition has been put on by the current owner which took away the egress from the one bedroom, making it a 2 bedroom + den. The "den" is located next to a full bath.
All the comps have 3 or 4 bedrooms.
My instinct is that a typical buyer would see it as a 3 bedroom house, much like when there is a room in the basement with some tiny window without meaningful egress next to a full bath that a buyer would see as a bedroom even though I report it as a den.
Would you just report the subject as a 2 bedroom and explain that a typical buyer would consider the den to have utility as a bedroom (assuming this is so) or something different? Obviously it would be nice to find something similar but its not always possible.
On the market for 4 days, was told multiple offers. Under contract above list price.Depends on whether the market is oversupplied or undersupplied, but in an oversupplied market, this would have a longer exposure and possibly a significant discount for functional utility.
If one of my comps had this layout, I would have a hard time not adjusting, all else being equal.
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