Atrium, Living Square footage or not

[PropertyEconomics]

Again, I think you have to turn to the market and temper what the market's reaction is vis a vis the applicable appraisal guidelines.

I have two situations where the market overwhelmingly considers the area as living space. In one I only include it when the livability of the house (floor) plan would not be functional without using it. This case is the walkout basement. My market area, with the many hills, is inundated with houses on walkout basements. And every HO thinks that that lower level is additional living space and cannot wait to put a rec room and a couple of bedrooms down there.

The second one that I've started including in the GLA is the enclosed porch where there is heat and electric, especially water front properties. My discussions with the HO's shows that these areas get significant use for about 3/4 of the year with the HO's and the buying public seeing them as living space. Therefore, I've taken to including them in the GLA if they seem substantial enough to so warrant being called living space.

NONE of your examples lack roofs Mr Carlsen. The Atrium is OPEN TO THE SKY .... how do you hold in heat there ....??? It may be outdoor living area but its not HEATED LIVING AREA ... or maybe my Scope is just wacky .... :Eyecrazy:

 

[CANative]

It may be outdoor living area

Ahhh... Then you agree it is living area of some sort?

 

[Michigan CG]

An atrium with open sky IS NOT GLA; a walkout basement IS NOT GLA. However, they may be given the same value as the GLA, you just cannot include it as such. Appraising 101.

 

[Richard Carlsen]

Up here, the only things we without roofs are decks and I don't think there is any way to stretch the definition of living space to include a deck.

 

[Pamela Crowley (Florida)]

This argument/discussion amazes me.

Too bad ANSI was not incorporated into USPAP; IMHO, it should be/should have been. Keep in mind that some States have incorporated it and all appraisers licensed in those States need to use it or be in non-compliance with their State regs.

Peers? I'm beginning to wonder about that, too! For the purposes of this discussion, I would guess that the majority of the experienced, competent, and ethical appraiser 'peers' would not count this atrium as part of the GLA. There are always a few who will disagree.

 

[CANative]

Are you implying that I am less than experienced, less than competent and/or less than ethical because of my arguments in this thread?

 

[Otis Key]

Are you implying that I am less than experienced, less than competent and/or less than ethical because of my arguments in this thread?

Don't you have a cesspool to go stir? You know as well as I and others that you don't include an open atrium - you're just stirring it for the grins and giggles.

 

[Mike Kennedy]

does the atrium without a roof have a cesspool cleverly disguised as a hot tub ? ......... did i miss something .........are there satellite photos? was it included in GLA in the last 12 2055-exteriors?

oh my.

 

[Hamlet]

Don't you have a cesspool to go stir? You know as well as I and others that you don't include an open atrium - you're just stirring it for the grins and giggles.

Perhaps he's just trying to get a good educational debate thread going to help out some lost souls out there.... Comp Checks were yesterday, what will be tomorrow's topic I await in anticipation...

 

[Michigan CG]

Perhaps he's just trying to get a good educational debate thread going to help out some lost souls out there.... Comp Checks were yesterday, what will be tomorrow's topic I await in anticipation...

Tomorrows topic is what do you wear to an inspection. Didn't you get the schedule?

By the way Donna....the corn grows in Iowa and Illinois. You guys are amateurs in corn growing.....