Second opinion on above grade vs below grade

[Fernando]

This would require GXX001. No level is completely above grade. The important part is that the appraiser compares apples to apples when possible

Stop making up your own rules. Not according to ANSI. Either it's above or below.

 

[Dublin ohio]

Stop making up your own rules. Not according to ANSI. Either it's above or below.

WTF are you babbling about. What level is completely above grade?

 

[Fernando]

WTF are you babbling about. What level is completely above grade?

Didn't you read ANSI? It's either complete or not.

 

[Dublin ohio]

Didn't you read ANSI? It's either complete or not.

My post was meant for the OP. The OP is listed as being the general public. I don't assume that the general public is familiar with all of the nuances of ANSI as it applies to appraisals. Know your audience.

 

[Fernando]

My post was meant for the OP. The OP is listed as being the general public. I don't assume that the general public is familiar with all of the nuances of ANSI as it applies to appraisals. Know your audience.

ANSI is what it is. Don't sugar coat it and tell OP what we're dealing with.

 

[andrew81]

Stop making up your own rules. Not according to ANSI. Either it's above or below.

Dude, did you read the original post and see the photos?

The entire house is ansi below grade. Call it 0sf and 0, 0, 0. Yeah, doesn't seem logical.

Not always the Fernando Way.

Exception code for the upper level, and lower level is basement.

 

[Fernando]

Dude, did you read the original post and see the photos?

The entire house is ansi below grade. Call it 0sf and 0, 0, 0. Yeah, seems logical.

Exception code for the upper level, and lower level is basement.

I thought, you thought, you thought you're the best, and would see it the Fernando Way. Which is 1 level with basement.

Is this style typical in the area? Or just for this house?
If typical in area, call it all basement as well as the comps and use separate lines.
Fannie wanted it that way. Homes above grade are worth more from construction perspective.

 

[MoistMitten]

Is this style typical in the area? Or just for this house?
If typical in area, call it all basement as well as the comps and use separate lines.
Fannie wanted it that way. Homes above grade are worth more from construction perspective.

Its classified as a Ranch/Rambler from the MLS info, but based on everything it still sounds like the exception stated makes the most sense to have an apples to apples comparison for the houses in this area. Some are more into the hill and others dont have a first floor.

 

[Tiffany Gibbons]

Its classified as a Ranch/Rambler from the MLS info, but based on everything it still sounds like the exception stated makes the most sense to have an apples to apples comparison for the houses in this area. Some are more into the hill and others dont have a first floor.

Seeing as it looks to be practically hanging over the lake, the lot value might be more of a factor. I would look at all the similar sales, even going back in time a bit and look at similar vacation cabin/lake cottage sales in nearby areas before I got too hung up on this issue.

 

[Terrel L. Shields]

before I got too hung up on this issue.

From the picture, I'd call both levels below grade. That means zero GLA - so what? Again, you are looking for

all the similar sales

And if I cannot differentiate the SF adjustment from one level to the other, I will adjust at one SF adjustment for all regardless if it is "GLA" or "Below Grade" - Lake properties here generally tend to value at the same SF adjustment top to bottom if finished. Out in the rural areas, not so much, especially flat land... there is a distinct difference in contributory value of the upper level and lower level, especially if the lower level, regardless finish - is mostly below ground level (no walk out side or end).

So if FNMA wants it called "below grade" or not, why create a scenario that isn't necessary.