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65076507

Thread Starter
Junior Member
Joined
Jan 1, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
Let's say subject is rancher (with basement) that is 30 x 20....Homeowners adds 14 x 20 2-story addition. Let's assume they have a full basement. After the 2 story addition:

1. Would you guys use colonial comps?
2. Also does it go from a full basement to a partial just because the
addition does not have a basement?

PLease help
 

Laughing Heir

Senior Member
Joined
Oct 16, 2007
Professional Status
Certified General Appraiser
State
Pennsylvania
I was taught that it would be a partial basement w/ crawl space, check both boxes on the form and then explain, explain, explain on the addendum. But then again, basements are the rule in my part of Pa.

I've never done a home with the architectural style you're describing, but my in-laws' house is exactly that so I'm interested in seeing what all the CRs & CGs will say about it. Good question.
 

Marcia Langley

Senior Member
Joined
Aug 26, 2005
Professional Status
Certified Residential Appraiser
State
Missouri
I would call it a 1.5 story with a partial basement.

I guess when you said 'colonial' you meant 2 story? I'd try to find comps that had a partial second level or use ranches. Full 2 story would be my last choice, all other things being equal.
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
As the official description, I would call it a partial basement. However in my comments I would explain there is a "full basement under the main dwelling" before the addition. If the comps are the same model as the subject, all with full basements, I would make no adjustment for the subject's "partial" and use the above explaination as the reason.
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
I was taught that it would be a partial basement w/ crawl space, check both boxes on the form and then explain, explain, explain on the addendum. But then again, basements are the rule in my part of Pa.

I've never done a home with the architectural style you're describing, but my in-laws' house is exactly that so I'm interested in seeing what all the CRs & CGs will say about it. Good question.


In your case Heir .. Id call them In-Law quarters ... detached of course .... :rof: .
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Sounds like the Redneck Ranch Sprawl design....I would hunt other amateur constructed homes for comps...
 

38Scarcello

Member
Joined
Apr 26, 2004
Professional Status
Certified Residential Appraiser
State
Washington
It sounds like a tear down to me. Have him start over with construction!
 

KD247

Senior Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
There's no one answer for all markets. This is where your geographical competence comes into play. The best way to find out how the market reacts towards those differences is to extensively interview buyers, sellers, and agents. Analyzing prior sales of each type of property will help, but when you're concentrating on a single property characteristic, it's easy to miss other important factors.

If you can't find the time to do the job properly, the next best solution is to consult with appraisers who have already done their homework.

This is a good excuse to make yourself known to the local real estate agents. Most agents love being asked for their opinion and your inquiries will enhance your reputation as a serious professional.
 
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