Appraisal Question on Garages, full basement, acreages

[Ghawell99]

Greetings to all,

Im a real estate agent in Georgia and surrounding Atlanta. Im listing a house open concept 1332 square footage on main level 3/2 with large den/office in addition to the 3/2. Basement with about 600 square feet. No Garage (framed in for the bonus room). I have a comp in the area that sold for 499,900, it has 3 car garage, full basement, 2 acres of land. Please help me with the how much to subtract for a Garages, Full basement vs. Partial Basement and Land acreage. This house is in the Atlanta Area. Thank you for any help because I don't have any idea. I want to price the home correctly.

 

[JTip]

Check out RPR (Realtor® Property Resource) for training videos on how to properly prepare a CMA based on YOUR LOCAL MARKET.

 

[CindyR]

pay for a prelisting appraisal from a seasoned local appraiser

 

[Artemis Fowl]

1) Can't really do that from here without more info. 2) Rendering a value opinion (even for an adjustment) is what we get paid to do.

Follow JTip's advice. Happy to help you learn but no one here will be giving it away.

 

[Terrel L. Shields]

I'm amused at the number of agents who think appraisers have some sort of "book" where they add the numbers up and add or subtract accordingly.

 

[Airstream]

Boy that is pretty impossible. I have made adjustments for garages from 10,000 to 70,000 depending upon the market. The only real way to do that is to look at house sold without and with garages and do a market sensitivity analysis. As stated above is doing what JTIP says which is learn how to grid out properties.

 

[Surf Cat]

Also may want to look into the legalities of the framed in garage for bonus room. Permitted, non-permitted? Typical for the area where you could determine a market reaction?

 

[Carnivore]

I'm amused at the number of agents who think appraisers have some sort of "book" where they add the numbers up and add or subtract accordingly.

LOL The gents create that book/list of adjustments, apparently this agent did not get his updated copy yet