Total room count

[Richard Carlsen]

and bedrooms need a closet.

John

What is your authority for this closet requirement rule?

 

[New Orleans Guy]

John

What is your authority for this closet requirement rule?

I just use that as a reason to tell someone that a room right off the foyer with no closet, and a 6' opening where you would want a privacy door means it is probably going to be called an office or family room in my report and not a bedroom. To me it seems all the real bedrooms usually have a closet. But I did give it more thought after last nights post and in the old days people had free standing armoiurs (spelled wrong) and sometimes no built in closets. So I guess that is not a real requirement for me.

 

[Jennette Picinich]

I don't count baths, foyers or closets! Never meet an appraiser (even a skippy) that did. How ever I do wonder (I am not a reviewer!!!) why it would matter. Just like I don't know anyone who counts those items as room, I don't know anyone who wounld make adjustments for total room count?!? I know it's not customary, but is it deciving to the reader? Doe it change the opinion of value? I don't know, but some how I doubt it.

As far as bedroom count goes (maybe I'm confused), but does it not depend on the market?

I'm sure that in Queen Creek we have a community that is made up of mostly young familys and bedroom count is formost. We have another community less then 3 miles away that is higher end homes. The less bedrooms the better! Just a thought.

 

[hastalavista]

...How ever I do wonder (I am not a reviewer!!!) why it would matter. Just like I don't know anyone who counts those items as room, I don't know anyone who would make adjustments for total room count?!?

In some markets, units are marketed as 3,4 or 5 room "flats", with no bedroom count given. Which rooms are "bedrooms"? Sometimes, all of them. In such cases, a room count adjustment (upward adjustment for inferior room count/downward adjustment for superior room count) may be the most accurate adjustment based on how the market reacts.

 

[Artemis Fowl]

What about a 2 bedroom house compared to a 4 bedroom house 200 difference in SQ FT and you have to use it because of the lack of sales? I see this often in my area. The other thing I see is an 800 sq ft 5/3/1. For the record I usually don't adjust for bedroom counts either. I'm just curious as to how people handle a 2 compared to a 4 bedroom property.

Depends on the market. I did a 1sty 1700 sqft 2 bedroom SFR. Market revealed that utility trumped square footage. 3 bed 1700 sqft commanded significantly higher value. Gotta pull those figures from data available. No formula or standards should be assumed.
Then there's the 3 bedroom design intent homeowner converted into a 2 bedroom. Is it easily curable? How does the market react? Is it common? No standards...gotta extract market reaction.