ANSI -Split Level Property

[RCA]

It’s also important to reflect what your local market recognizes in the appraisal. Real estate is local.

The truth is that real estate has many attributes that contribute to value and one of those attributes is its location. My foregoing statement therefore has a higher truth "IQ" than yours.

 

[Carnivore]

It’s also important to reflect what your local market recognizes in the appraisal. Real estate is local.

I agree. So how do you report the separate line items caused by the GXX001. Here is what I would do; If these two or three areas are all recognized by the market as being equal/the same i.e No, not to any appraiser or GSE and I might add Lender type clients. OTOH the Public will not understand because they don't think in that perverted way. AMC Phone Monkey Checker Dudes/Dudettes will slowly adapt. The AMC's will expect an explanation aka STIP.

Where it get iffee are the most common tri-levels The lowest level of FINISHED Space is not below Grade, Why is that? because the inside back wall area often has your mechanicals i,e furnace etc. That 5'-6' depth and 20-25' width area is unfinished below grade. The lower third level Finished is ALL at Grade. Then again many of that design are completely below grade. Why? The mechanicals may not be in that area. so the back wall of the finished space is below grade.

If anybody is confused by what I said its because I need to provide pix and diagrams to demonstrate the above. I will try to do that later today after I finally finish this agonizingly difficult appraisal assignment I have on my desk.

Chad I know you have seen this because we both work in the Charlotte MSA.

 

[Tom D]

i have not had a single issue when i applied the GXX001. but then again i had a more tolerant, no AMC, lender. so, it may not be a technical issue, but a stupid AMC tolerance level, with a touch of not understanding anything different.

 

[residentialguy]

I agree. So how do you report the separate line items caused by the GXX001. Here is what I would do; If these two or three areas are all recognized by the market as being equal/the same i.e No, not to any appraiser or GSE and I might add Lender type clients. OTOH the Public will not understand because they don't think in that perverted way. AMC Phone Monkey Checker Dudes/Dudettes will slowly adapt. The AMC's will expect an explanation aka STIP.

Where it get iffee are the most common tri-levels The lowest level of FINISHED Space is not below Grade, Why is that? because the inside back wall area often has your mechanicals i,e furnace etc. That 5'-6' depth and 20-25' width area is unfinished below grade. The lower third level Finished is ALL at Grade. Then again many of that design are completely below grade. Why? The mechanicals may not be in that area. so the back wall of the finished space is below grade.

If anybody is confused by what I said its because I need to provide pix and diagrams to demonstrate the above. I will try to do that later today after I finally finish this agonizingly difficult appraisal assignment I have on my desk.

Chad I know you have seen this because we both work in the Charlotte MSA.

It is based upon typical application of that house. In nearly every house, (exception of sunken living rooms and architects on crack) the finished levels below the kitchen level function as any finished basement. The grade doesn't change that. That 2 story built into the hill is still a 2 story. That 3 or 4 level split, the upper 2 levels are GLA. The levels below the kitchen main level function as basement.... whether it is all built into a hill or all sitting on grade.
If it varies from how that house typically sits in the grade you state GXX001 exception and you put it on the SCA as it typically sits in the dirt.

A Colonial 2 story with a finished basement has 2 levels of GLA and the lower level is finished basement. I don't care if it's completely below ground or hanging in a tree.

 

[RCA]

It is based upon typical application of that house. In nearly every house, (exception of sunken living rooms and architects on crack) the finished levels below the kitchen level function as any finished basement. The grade doesn't change that. That 2 story built into the hill is still a 2 story. That 3 or 4 level split, the upper 2 levels are GLA. The levels below the kitchen main level function as basement.... whether it is all built into a hill or all sitting on grade.
If it varies from how that house typically sits in the grade you state GXX001 exception and you put it on the SCA as it typically sits in the dirt.

Look in the SF Bay area we have very many multi-million dollar homes that are built into hillsides where only the garage is above grade facing the road. You step down to the main entrance and below that you have 3-4 split levels. You have stairs going up each side. Maybe a small elevator taking you to the garage. Each living area is built out from a foundation that puts each living area above grade of the hillside to the left and right. It is mostly on bedrock. Yet ANSI Z65 says the entire level must be above grade. "Level" isn't defined of course. Stupid ANSI. We assume from the context of the entire standard, that they do mean that the entire level including the foundation and retainer walls must be above grade

Using common sense, however, such hillside homes can be far more advantageous than living in a completely above-grade house that is however in an area of liquefaction - such as much of Foster City. ANSI fails to understand these things. It was really molded by builders, with little input for appraisers. The people involved in writing ANSI, are really not very competent or experienced. I would assume most are from the East Coast.

Anyway, it is what it is.

 

[residentialguy]

Look in the SF Bay area we have very many multi-million dollar homes that are built into hillsides where only the garage is above grade facing the road. You step down to the main entrance and below that you have 3-4 split levels. You have stairs going up each side. Maybe a small elevator taking you to the garage. Each living area is built out from a foundation that puts each living area above grade of the hillside to the left and right. It is mostly on bedrock. Yet ANSI Z65 says the entire level must be above grade. "Level" isn't defined of course. Stupid ANSI. We assume from the context of the entire standard, that they do mean that the entire level including the foundation and retainer walls must be above grade

Using common sense, however, such hillside homes can be far more advantageous than living in a completely above-grade house that is however in an area of liquefaction - such as much of Foster City. ANSI fails to understand these things. It was really molded by builders, with little input for appraisers. The people involved in writing ANSI, are really not very competent or experienced. I would assume most are from the East Coast.

Anyway, it is what it is.

That would be a gxx001. If the grade level makes a difference, like you were saying, make a line adjustment.
Figuratively pull the house out of the ground and take a look at the house and tell me what house it is and what level functions like in that type of house. Typically, levels below the kitchen level functions like a finished basement level. Kitchen level and above are the GLA levels with rare exceptions.

 

[Vermonter]

totally insane way to live, but someone thought it might be contemporary long ago.

Some builders still do. We have a new construction development where the townhomes that have the "step up or down to every room" floorplan. Can't imagine bringing a toddler or older person into one. You'd be at the ER every couple days.

 

[Amy Perkins]

View attachment 62014

True, unless the difference between the levels is 2 feet or less. ANSI doesn't address what happen when there are 3 levels that are 2 feet successively, although that is probably uncommon. Also, if there is grade in between levels then I presume they are then separated, however ANSI is unclear on this too.

A few feet is the same floor, anymore than a crawl space and it's another level. Do you draw the garage on a separate level than a raised foundation, no... it's the first floor! Stop getting too technical, it's meant to be simple. Stairs are on one level, it's where you walk, living area and you don't live in the fireplace. Use your common sense and don't get side tracked by technicalities in design.

 

[Amy Perkins]

That would be a gxx001. If the grade level makes a difference, like you were saying, make a line adjustment.
Figuratively pull the house out of the ground and take a look at the house and tell me what house it is and what level functions like in that type of house. Typically, levels below the kitchen level functions like a finished basement level. Kitchen level and above are the GLA levels with rare exceptions.

Even if it goes in the below grade area, you can value it however you want per sf. Those foundations are typically very expensive so the cost and view... it's worth it

 

[Fernando]

Look in the SF Bay area we have very many multi-million dollar homes that are built into hillsides where only the garage is above grade facing the road. You step down to the main entrance and below that you have 3-4 split levels. You have stairs going up each side. Maybe a small elevator taking you to the garage. Each living area is built out from a foundation that puts each living area above grade of the hillside to the left and right. It is mostly on bedrock. Yet ANSI Z65 says the entire level must be above grade. "Level" isn't defined of course. Stupid ANSI. We assume from the context of the entire standard, that they do mean that the entire level including the foundation and retainer walls must be above grade

Using common sense, however, such hillside homes can be far more advantageous than living in a completely above-grade house that is however in an area of liquefaction - such as much of Foster City. ANSI fails to understand these things. It was really molded by builders, with little input for appraisers. The people involved in writing ANSI, are really not very competent or experienced. I would assume most are from the East Coast.

Anyway, it is what it is.

I'd been saying this all along. You understand what I go through. ANSI does not always apply here especially on hilly terrain. Inexperience appraisers will not follow ANSI correctly. Fannie is out of touch with reality here. Why make a standard where many appraisers do not understand how to use it on unique situations?
Overhear is not flat like in other parts of the nation or have basements always below grade.