- May 9, 2006
- Professional Status
- Certified Residential Appraiser
Looking over an appraisal on a 3 bedroom condo. For one sale on a 2 bedroom unit, the appraiser made a $30,000 positive adjustment for a bedroom and no adjustment for GLA (171 sf difference). The next comp, a 4 bedroom, he made no bedroom adjustment, but made a GLA adjustment of $150 psf (499 sf difference). The explanation was 'to avoid double dipping" by making both bedroom and GLA adjustments. Has anyone seen this before and how does that make sense? If you are going to make a GLA adjustment, make it for both and not for the bedrooms. Conversely, if you are going to make a bedroom adjustment, make it for both and not the GLA. To avoid double dipping.