Fireplace Count?

[Nevermind 3]

I have never had this come up in my many years of appraising, but I have a condition wanting me to explain why I have 1 less fireplace noted on page 1, then there are at the property.

In this case there is 1 fireplace in the living room and one outside on the back covered patio. I was taught to count interior fireplaces in the Fireplace amenities box and note the exterior fireplace separately. I commented on it in my comments and put it in my sketch.

How do you count outdoor fireplaces? Part of the total fireplaces in the fireplace field ...or separate?

Also, how would you do the room count if the improvements have some "below grade" rooms that are considered legal living area, part of the main house and not finished basement. We typically don't have basements in our area, but this property has below grade living area with a small adjacent basement on the same level. How would you deal with that room count on page 1?

 

[CANative]

The problem is someone like you having to have this stupid discussion with someone like them.

Explain it like you explained it to us. I understood it and I'm not very bright. :Eyecrazy:

 

[Nevermind 3]

The problem is someone like you having to have this stupid discussion with someone like them.

Explain it like you explained it to us. I understood it and I'm not very bright. :Eyecrazy:

Thank you and I agree, but I am just curious as to if that is how they are handled by the consensus, or if other appraisers handle these situations differently. The whole reason I bring up this question is because there were 2 appraisals done on this property and the client is asking for justification, since both state different fireplace #'s and room count. Some people count the foyer as a room and some don't , etc.

 

[CANative]

Thank you and I agree,

Hey! What do you agree with? That I'm not too bright?

The FP count is for the primary residence included in the GLA (IMHO.) The exterior FP is an amenity.

And I don't consider FP's to be a unit of comparison in any case for most properties in most markets.

 

[namaste524]

I have never included below grade finished areas as you've described, in the room count. Nor would I include an exterior fireplace in the fireplace count on page 1.

 

[Riick]

Adjustments for F/P so small, I've decided to ignore them, and use that line in grid to help focus on Kitchen & Bath.
Is an extra F/P worth as much as $2,500 ???
Not around here.
So why did they have two appraisals done, 1st too high or low? Homeowner not getting the deal they were promised, original appraiser disciplined by State inbetween?

 

[CANative]

So why did they have two appraisals done, ?

Too many idiot appraisers making $2,500 adjustments?

 

[Tim The Enchanter]

Hey! What do you agree with? That I'm not too bright?

The FP count is for the primary residence included in the GLA (IMHO.) The exterior FP is an amenity.

And I don't consider FP's to be a unit of comparison in any case for most properties in most markets.

I also agree with the Can man. :icon_idea:

 

[VolcanoLvr]

10-4 to not doing FP adjustments (any more)...but of course was taught to years ago, by using the 'list of adjustments' most of us were handed way back when before we knew better.

OP - You have described the situation perfectly. But this is probably an issue that "underwriting" has a problem with. I'm learning that U/W's are now the controllers of how reports are written, not the actual primary appraiser, or the certified review appraisers the lender or AMC may have on staff. Appraisers are the small cogs in the wheel, with no power of persuasion.

Reports must be written so that U/W's accept them and if your report does not meet their black & white checklist that only applies to them, then they issue a QA notice.

In some cases, the U/W department does not actually have a policy manual or list of report guidelines, so the particular correction is issued by some individual who is not familiar with reporting conventions, and won't read the explanations in the reports.

That correction item may be overlooked by some other individual in the same department. Extraordinarily frustrating to deal with these folks, despite no absolute guidelines for different ways reports are completed in different parts of the country.

 

[Terrel L. Shields]

It's a yard ornament...like the garden gnome...which you apparently have drawn as an underwriter...