Including Above Grade Area Into Basement or Below Grade Area

[Dublin ohio]

That is called a sub-basement. I have seen sub-basements maybe twice in 17 years.

I know what a sub basement is. Never seen one in a sf home but have seen them in commercial buildings. But in order to have a sub basement you have to have a basement. I have never seen an above grade "basement". If you say basement around here. Everybody is thinking below grade

 

[Joe Flacco]

If these three houses all have the exact same floor plan, the lower level is basement. All three homes function the same. Main level, bedroom level, and basement level.

 

[Joe Flacco]

You want to compare the yellow area with yellow area and red area with red area.

That is what makes sense to me.

 

[Joe Flacco]

This house is three levels and no basement.

 

[Fernando]

That "discretion" is more than likely one of the main reasons they adopted ANSI. Discretion was subjective and not consistent from one appraiser to another. Even today some appraiser's on the forum are still trying to invoke the Fannie exception that was eliminated with the adoption of ANSI

Of course Fannie doesn't like appraiser's discretion. Appraiser sees each case unique in that area and does what is consider best way to do it.
Fannie wants consistency to fit into their computer models. ANSI is making it easier to mine our data. No pushback from appraisers like usual except whining.

 

[Alaska]

For that, I measure like the "appraiser sketch" and not the "my sketch". The garage level is below grade on at least one side. The floor of the entry level is the grade on that side.

It's similar to a ranch but half the house was offset by half a floor. 1 level + basement

Here’s a pic of the house. Grade slopes up from garage. The garage level is not below grade.

 

[sputnam]

Whenever the grade is atypical. You can have functioning GLA sitting below grade and you can have a basement functioning area above grade. Appraisers seem to think there is something magical about the grade line... if you shovel some dirt up that around a main level, it becomes basement or if you shovel the dirt from around a basement, it becomes GLA. Appraisers that think this are idiots.

By definition, you can not have GLA that is sitting below grade. You can below grade area that is every bit as functional and marketable as the above grade area. It's not GLA. No one things the grade line is magical. GLA was and is a manner of describing the size of a structure. Nothing more. Your valuation analysis should be logically tied to the way property is marketed.

 

[sputnam]

View attachment 82105

If these three houses all have the exact same floor plan, the lower level is basement. All three homes function the same. Main level, bedroom level, and basement level.

They don't all have basement. Basement isn't defined by the level of finish or by how the space is used. Basement or non basement is defined by the relationship of the floor of the level to the ground outside. The first one does not have a basement. The other two do.

 

[Joe Flacco]

They don't all have basement. Basement isn't defined by the level of finish or by how the space is used. Basement or non basement is defined by the relationship of the floor of the level to the ground outside. The first one does not have a basement. The other two do.

That is fine as long as you understand that all three homes are exactly the same.

All three homes have kitchen, living , dining, powder room on the main level. Three bedrooms two bathrooms on the upper level. Rec room, bathroom, utility on the lower level.

 

[residentialguy]

By definition, you can not have GLA that is sitting below grade. You can below grade area that is every bit as functional and marketable as the above grade area. It's not GLA. No one things the grade line is magical. GLA was and is a manner of describing the size of a structure. Nothing more. Your valuation analysis should be logically tied to the way property is marketed.

So what? You forget the intent of what you're doing. This is a comparison. You are comparing it building to building and value to value in a consistent manner. That's why there is an exception to ANSI, with explanation. So newsflash: You can! Those 2 houses are identical and I am comparing them identically. If the grade level variance has some effect on value (which would be minimal, at best), I'll adjust on a separate line.