Ansi delema

[sputnam]

Yes

Before or after ANSI, the improvements are what they are. You report all of it. The difference is in the standard that you use to describe the size of the dwelling.

 

[Tim Hicks (Texas)]

Funny how ANSI makes appraisers do it correctly now. I never understood the argument that whatever the market acceptance is makes it okay to not call it what it is. If there are plenty of these type sales/properties, call it what it is (below grade area) it will still reflect the same value. We are doing appraisals, not marketing the properties to sell. We should always call it what it is and compare to similar properties. If you are worried about exceeding guidelines because some sales are true two story homes with no below grade area, it hs always been no big deal as long as you explain. Otherwise, just use similar homes with below grade areas for comparable sales.

 

[djd09]

no market participant measures to the inch or cares the ceiling is 7 foot or that there is one inch of dirt on the corner of the first floor but keep trying the sell i mean buy the book

 

[Tim Hicks (Texas)]

no market participant measures to the inch or cares the ceiling is 7 foot or that there is one inch of dirt on the corner of the first floor but keep trying the sell i mean buy the book

Who really wants a house with 6 foot ceilings unless that is all there is to choose from?

 

[Terrel L. Shields]

I do believe most of us would have called a 2 story using the old fannie exception.

nope. Not here... 1 story w walkout basement. The kicker is the concrete wall. You have two different constructions. A concrete (block?) wall in the finished walk out basement and you have a frame with siding upper level. Divide and conquer.

 

[Dublin ohio]

nope. Not here... 1 story w walkout basement. The kicker is the concrete wall. You have two different constructions. A concrete (block?) wall in the finished walk out basement and you have a frame with siding upper level. Divide and conquer.

So if the house was all concrete block construction.....................

 

[alebrewer]

Seems to me the market would most likely perceive it as a 2 story, more especially since the kitchen is on the lower level. Of course, I'm not familiar with that market, so maybe not.

 

[Terrel L. Shields]

o if the house was all concrete block construction

You could make a better case - but as FNMA defines it and ANSI confirms it, the earth contact portion is not the same as the above ground. I don't care what the room count is or materials, but in the OP's case, it clearly is a concrete wall below and frame above. I've analyzed several such properties (they are not common here) and when you find a SFR very similar to the upper level, adjust out the size and the land value you are left a chunk for the basement and that typically is much less per SF except on the lakeside properties on steep slopes and it tends to be the "same" more or less since land is such a premium on the lake. And I adjust accordingly.

 

[Dublin ohio]

You could make a better case - but as FNMA defines it and ANSI confirms it, the earth contact portion is not the same as the above ground. I don't care what the room count is or materials, but in the OP's case, it clearly is a concrete wall below and frame above. I've analyzed several such properties (they are not common here) and when you find a SFR very similar to the upper level, adjust out the size and the land value you are left a chunk for the basement and that typically is much less per SF except on the lakeside properties on steep slopes and it tends to be the "same" more or less since land is such a premium on the lake. And I adjust accordingly.

Wasn't trying to make a case. Just messin with ya.

 

[Airstream]

I would call this a 2 story house. Sketch it as ANSI and appraise it as a 2 story. ANSI doesn’t dictate how we appraise the property. So I would grid the first story as basement and adjust the square footage the same as the second floor.