• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Above Grade Basement?

Status
Not open for further replies.

PTA

Freshman Member
Joined
Jan 18, 2017
Professional Status
Certified Residential Appraiser
State
Georgia
How would you consider the space? I did an appraisal on a 3 story townhome all technically above grade. The lowest level is a garage, bedroom, bathroom, and front door, but the kitchen and main living areas are one level up. In this appraisal, I had comps exactly the same and then I also had a 3 level townhome, all technically above grade with bedroom, bathroom, and garage on the lowest level with the front door between the lowest level and the 2nd level. I also had a comp which was a 3 level townhome with the lower level partially below grade with a garage, bedroom, bathroom on that level and the kitchen & main living upstairs.

I appraised all space below the kitchen & living room as below grade space as they had the same features (garage, bedroom, and bathroom) - the only differences were being technically above or below grade and where you enter the home.

I considered utility above the technicality, but what would you do???
 

Ken B

Elite Member
Joined
Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
I once appraised a SFR which had a traditional split-foyer design, except that it was built on a crawlspace with a partially finished lower level. Every inch of the lower level was above grade.

For purposes of analysis and comparison, I did not report the lower-level space as GLA and I utilized traditional split-foyer comparables rather than 2-story homes constructed on crawlspaces.

One can paint a skunk's white stripes black, but it is still a skunk, not a black cat.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
If it is all above grade then it isn't a basement or below grade. I would consider the garage as drive under and include any other area on this level as part of the GLA.
 

Mark K

Elite Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
"...all technically above grade..." "Technically" above grade? It either IS or ISN'T above grade.

Arguing that the space is comparable in functional utility as below grade may be reasonable.

Appraising it as below grade or a basement when it obviously is NOT below grade is not reasonable.
 

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
I appraised all space below the kitchen & living room as below grade space as they had the same features (garage, bedroom, and bathroom) - the only differences were being technically above or below grade and where you enter the home.

I considered utility above the technicality, but what would you do???
I agree with you, PTA. Sorry guys, but it's about function, not about the dirt level. It functions as a basement and whether it's a foot below grade or on grade means nothing. You should be able to need to hold the home in your hand (so to speak) and tell what kind of home it is. Apples to apples. If you take a walkout raised ranch with a full basement and clear the 1' of dirt around it, it doesn't all of the sudden become a 2 story with no basement and then compare 2 stories against it? Nope! :nono: ANSI is a great model to follow, but there are exceptions and this is one of them. Appraising it as a basement will give you accurate market value. Appraising it as GLA gives you inaccurate comparisons of home much larger than the subject.
 
Last edited:

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
Here is a townhome that I used to own. The basement was on grade....but it did have some dirt pushed up against it at the front door, so even by ANSI it was below grade. Now if I cleared that dirt away I would have no basement and compare it to 2 story homes? LOL....not even. It's a split entry/foyer with the upper level GLA and the lower level is a basement, functioning just like OP's basement.

baylor-jpg.30488
 

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
I once appraised a SFR which had a traditional split-foyer design, except that it was built on a crawlspace with a partially finished lower level. Every inch of the lower level was above grade.

For purposes of analysis and comparison, I did not report the lower-level space as GLA and I utilized traditional split-foyer comparables rather than 2-story homes constructed on crawlspaces.

One can paint a skunk's white stripes black, but it is still a skunk, not a black cat.
Exactly!!! :clapping::clapping::clapping:
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Above grade with a built in garage : )
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks