Confirming Comparable's Ceiling Height

[NJ Valuator]

This topic was I am sure already discussed, but just wanted to get a more current opinion.

In regards to dwellings with sloped roofs, if you have to physically measure the subject in order to confirm if its 2nd floor ceiling height meets ANSI requirements, then how do you all verify if the comparables with sloped roofs have ceiling heights that do or do not conform to ANSI. You are not physically measuring the comparables so how can you be 100% sure? How do you determine from just an exterior view if at least 50% of the finished sf of a comparables 2nd floor sloped room has a ceiling height of at least 7 feet? If it cannot be confirmed what do you do? Not use the comparable?

 

[jay trotta]

Apples & Oranges......because FNMA said so.....right or wrong they control what you do for the work they require.

 

[NJ Valuator]

Apples & Oranges......because FNMA said so.....right or wrong they control what you do for the work they require.

Apples & Oranges in what context?

 

[Terrel L. Shields]

If it cannot be confirmed what do you do? Not use the comparable?

You say you cannot confirm but assume it is correct as stated in the MLS listing or Tax parcel card.... That is an extraordinary assumption, but I'd not use the "extraordinary", just the assume since FNMA says that we are not to use extraordinary assumptions. If they ask just say it is an ordinary assumption under the circumstances.

 

[NJ Valuator]

You say you cannot confirm but assume it is correct as stated in the MLS listing or Tax parcel card.... That is an extraordinary assumption, but I'd not use the "extraordinary", just the assume since FNMA says that we are not to use extraordinary assumptions. If they ask just say it is an ordinary assumption under the circumstances.

An ordinary assumption that the comparable's GLA does meet ANSI?

 

[Surf Cat]

Grid the frigging comp and don't say anything. You're making it harder than it has to be.

If the MLS says nothing about ANSI, if public record says nothing, if assessor data says nothing...... why would you?

Now, if the AMC comes back with a stip wanting to know if Comp #2's GLA is to ANSI standards, you simply state that it is unknown and not documented in any of the sources utilize to confirm the comparable's GLA.

Who cares if it has a slopped roof.....

 

[Tom D]

did you measure the comps to be sure their GLA was accurate. in the good old report days a cape COD states 1.5 story. that was meant to say GLA was 1/2 half of the 1st level. makes to much sense in standardizing that space. most of those roof slopes are standard built for the area. you can tell by looking at the photos that the all look alike. but don't believe your eyes. there are times to be telling and times to be telling nothing. the more telling you are, the more they can find what you did wrong.

 

[George Hatch]

WWBD?

What would buyers do?

 

[Tom D]

i never had a discussion with buyers about ceiling height when i was a broker. now maybe in an extreme angle they might say something. anyway, i was only interested in their hot buttons, not 2nd level ceilings or what appraisers thought.

 

[Tom4value]

You can't be 100% sure unless you measure it. Doesn't mean don't use it.

What I do is look at the MLS photos. Most of the time you have interior photos of the second floor rooms. You can usually tell by looking at the height of the windows from the floor and from the ceiling. You can't confirm the exact height but you can confirm if it is comparable to your subject. If so, look at the property record card and subtract out the second floor from the GLA and room count, just like your subject, and value it separately. Of course, EXPLAIN lest you get beat up for having the GLA "wrong".