Weird Things that Slow you Down.

[Terrel L. Shields]

Went to look at a comp, has a shop building, but no garage. Very obviously in the house was listed with a 2 car garage. That has been converted to living space. "off-grade". So, the question is, was that conversion before or after the sale closed?

Well, finally tracked down a source and it was converted the month after the sale closed. The shop was built a year earlier. It was a 1,700 SF house with only 2 bedrooms, so was rather large for only 2 bed and now it is 2,100 SF plus and a more "normal" 3 bed 2 bath, even if probably off-grade. But now sans a garage.

I spent at least 3 hours trying to get an answer and no Realtor call back but finally noticed a note in the assessors field card records. They had inspected the property a couple months after the sale and noted the conversion was completed the month after the sale. Now the problem was adjusting 2 bed vs 3 bed with all my comps and subject were 3 bed and within 200 SF of the size of the subject.

 

[ZZGAMAZZ]

Went to look at a comp, has a shop building, but no garage. Very obviously in the house was listed with a 2 car garage. That has been converted to living space. "off-grade". So, the question is, was that conversion before or after the sale closed?

Well, finally tracked down a source and it was converted the month after the sale closed. The shop was built a year earlier. It was a 1,700 SF house with only 2 bedrooms, so was rather large for only 2 bed and now it is 2,100 SF plus and a more "normal" 3 bed 2 bath, even if probably off-grade. But now sans a garage.

I spent at least 3 hours trying to get an answer and no Realtor call back but finally noticed a note in the assessors field card records. They had inspected the property a couple months after the sale and noted the conversion was completed the month after the sale. Now the problem was adjusting 2 bed vs 3 bed with all my comps and subject were 3 bed and within 200 SF of the size of the subject.

So, just in general, when the subject bedroom count is "too small" relative to its GLA, and the absence of a garage in a market in which 2-car garage are mandatory, as well as typical..i if & wen ever applying baseline indusgry adjusmen proocol, do you make an adjustment for he difference, only, or for he differene as well as a separate adjustment for the diminished functionality?

 

[Terrel L. Shields]

I don't micro-adjust. In this case, I compared comps. These are rural comps and no mandates for a garage. The shop is a large shop and can accommodate cars. But I do want to adjust for lack of 3rd bedroom being corrected with the subsequent loss of the garage space. So, I have offsetting factors to deal with as the subject and other comps were 3 bed and had garages.

 

[Surf Cat]

I don't micro-adjust. In this case, I compared comps. These are rural comps and no mandates for a garage. The shop is a large shop and can accommodate cars. But I do want to adjust for lack of 3rd bedroom being corrected with the subsequent loss of the garage space. So, I have offsetting factors to deal with as the subject and other comps were 3 bed and had garages.

In the area where I work, most Incorporated cities zoning around here requires two car covered parking. A good percentage of these homes, people use their garages for storage. Some people convert their garage to workshops, or throw a pool table in there and create a rec room.... I've seen a couple conversions to grow rooms although there was no product.

With the heavy focus on ADUs, now the parking requirements have become much more lenient. It used to be if you converted your garage, you had to build a carport for covered parking.

I personally would love to have a workshop to tinker in and fix things, play guitar in, a general get away from the house space would be much more valuable to me than a garage.

 

[ZZGAMAZZ]

In the area where I work, most Incorporated cities zoning around here requires two car covered parking. A good percentage of these homes, people use their garages for storage. Some people convert their garage to workshops, or throw a pool table in there and create a rec room.... I've seen a couple conversions to grow rooms although there was no product.

With the heavy focus on ADUs, now the parking requirements have become much more lenient. It used to be if you converted your garage, you had to build a carport for covered parking.

I personally would love to have a workshop to tinker in and fix things, play guitar in, a general get away from the house space would be much more valuable to me than a garage.

I did a few recent jobs in densely populated Inglewood. Seems that half the SFR listings describe potential to convert gar into ADU, where in numerous CA markets I work, jurisdictional requirement for cov parking is now superseded when ADU is created...

 

[Surf Cat]

I did a few recent jobs in densely populated Inglewood. Seems that half the SFR listings describe potential to convert gar into ADU, where in numerous CA markets I work, jurisdictional requirement for cov parking is now superseded when ADU is created...

Keywords being "potential" and "when" Adu is created. Since we typically do as of effective date, the zoning classifications remain ( in many areas) two car covered parking required.

 

[ZZGAMAZZ]

Keywords being "potential" and "when" Adu is created. Since we typically do as of effective date, the zoning classifications remain ( in many areas) two car covered parking required.

Awfully weird to realize, but I don't remember any of the hundreds of compled assignment with non-conforming improvements, as the basis of "legal non-conforming" status... when the non-conformity was addressed with a corresponding SCA adjustment....hmmmm

 

[sputnam]

It's part of our credibility problem. Many appraisers are more concerned about speed than they are about the quality of the work.

 

[Sid Holderly]

In rural areas with basic and limited governmental requirements it is often difficult to find adjustments for differences. There is little uniformity and vast differences in amenities. Low sales volume also reduces the likely hood of finding good comparisons from which to derive an adjustment. Most Appraisal Management Co reviewers do not understand this and ask for impossible understandable bracketing. This is a reason to prefer working for local banks directly on rural properties. We support what we have with what is available and it is often not pretty and takes longer to compile.

 

[ZZGAMAZZ]

It's part of our credibility problem. Many appraisers are more concerned about speed than they are about the quality of the work.

I would rarely if ever accept an assignment i didnt think that i could complete within 72 hours. Appraisers taking 2 weeks to finish a 1004???