DKAYTES
Junior Member
- Joined
- Jun 4, 2007
- Professional Status
- Certified Residential Appraiser
- State
- New Jersey
Scenario: The subject property 2.5 bathrooms consisting of 1 bathroom having a sink / vanity combination, a toilet, and a bathtub with a shower head ( that is 1 bathroom). In the master bedroom another bathroom with a sink / vanity combination, a toilet and a double stand up shower. Then a 1/2 bath with a sink / vanity combination and a toilet.
The client is insisting the bathroom with the stand up shower is has be considered as a " 3/4" bathroom, however in this market area there is no market reaction ( negative or positive) for the second full bathroom having a stand up shower only. A similar comparable which were marketed and sold was listed and sold as 2.5 bathroom property.
I have always considered a full bathroom to be a room with basic lavatory functionality ( toilet and sink) along with a bathing area, whether it is a bathtub or a standup shower. IMO anything other type of description would be misleading. I'm trying to satisfy this condition ( which I have never been questioned on before) and not be misleading to the intended user. At this point, I am trying to grid the bathroom count as " 1.75/1 ". the "1" for the 1/2 bath, because in this market area the properties are listed as "2/1" for a 2.5 bathroom property. Being consistant with the MLS. In addition no adjustments for comparables sold with bath counts as 2.5. The client is in agreement with no value change or adjustments are necessary. My approach is - in the text addenda explaining to the reader the logic and the request of the client. Further, one of the comps has a photo of one of the bathrooms - a stand up shower. I made that bath count the same as the subject, " 1.75/1" and explained this in the addenda also, that it is a similar bathroom configuration as the subject but was sold as a 2.5 bathroom count home therefore no adjustment was deemed warranted. Trying to make all things equal.
If our jobs as appraiser's is to establish a credible opinion of market value according to the local market area's reaction utilizing the similar comparables, no mislead the intended user, haven't we done our job?
Any input and or guidence on verbage or griding is appreciated.
The client is insisting the bathroom with the stand up shower is has be considered as a " 3/4" bathroom, however in this market area there is no market reaction ( negative or positive) for the second full bathroom having a stand up shower only. A similar comparable which were marketed and sold was listed and sold as 2.5 bathroom property.
I have always considered a full bathroom to be a room with basic lavatory functionality ( toilet and sink) along with a bathing area, whether it is a bathtub or a standup shower. IMO anything other type of description would be misleading. I'm trying to satisfy this condition ( which I have never been questioned on before) and not be misleading to the intended user. At this point, I am trying to grid the bathroom count as " 1.75/1 ". the "1" for the 1/2 bath, because in this market area the properties are listed as "2/1" for a 2.5 bathroom property. Being consistant with the MLS. In addition no adjustments for comparables sold with bath counts as 2.5. The client is in agreement with no value change or adjustments are necessary. My approach is - in the text addenda explaining to the reader the logic and the request of the client. Further, one of the comps has a photo of one of the bathrooms - a stand up shower. I made that bath count the same as the subject, " 1.75/1" and explained this in the addenda also, that it is a similar bathroom configuration as the subject but was sold as a 2.5 bathroom count home therefore no adjustment was deemed warranted. Trying to make all things equal.
If our jobs as appraiser's is to establish a credible opinion of market value according to the local market area's reaction utilizing the similar comparables, no mislead the intended user, haven't we done our job?
Any input and or guidence on verbage or griding is appreciated.