What constitutes a basement Is there a below grade SF threshold

[NJ Valuator]

2 inches of the entire first floor of a house is below grade. Do I report this area as basement?

If the house is a 1 story ranch and the first and only floor is 1 inch below grade? Do I report the GLA as zero?

 

[Terrel L. Shields]

I believe they allow for a foot difference between levels within the GLA

 

[Dublin ohio]

2 inches of the entire first floor of a house is below grade. Do I report this area as basement?

If the house is a 1 story ranch and the first and only floor is 1 inch below grade? Do I report the GLA as zero?

I am not trying to be a smart azz. But how do you know?

 

[Carnivore]

2 inches of the entire first floor of a house is below grade. Do I report this area as basement?

If the house is a 1 story ranch and the first and only floor is 1 inch below grade? Do I report the GLA as zero?

assuming your using ANSI Z765 2021

1. The entire 1st floor is below grade 2 inches Hmmmm I would not call it a basement. I would identify it as finished area on a separate line as below grade

Page 2 Para 3.6

 

[Dublin ohio]

assuming your using ANSI Z765 2021

1. The entire 1st floor is below grade 2 inches Hmmmm I would not call it a basement. I would identify it as finished area on a separate line as below grade

Page 2 Para 3.6

Now the 64k question. How would you identify sales with similar situation.

 

[shrubberyvaluation]

Following the standards you would call it below grade. I always go against the standard when the entire dwelling or unit is partially below grade. Regardless of how its reported on the grid I account for the market reaction (or lack thereof).

 

[Carnivore]

Now the 64k question. How would you identify sales with similar situation.

Not my problem! What you say! Well if I can't or don't have sufficient clean data then my only choice is to decline the assignment. Sorry! Stop trying to make me fix your screwed up system. OTOH Dublin ohio; Not all assignments will have this problem. Now if they can just get those stong minded Independent Reraltors to cooperate
------------------

Having said that above. Remember this: Most of the homes out there are not eaten up with these kinds of problems. Everyone seems to be using the one-offs or weird properties to disparage the ansi standard.

I don't know of one house within a mile or two of me that would be a problem using the ansi! Not one!!! In that 1-2 mile circle there are well over a thousand SFR. I could even go two-mile circumference Now older sections of my city you will run into some issues.

 

[Dublin ohio]

Not my problem! What you say! Well if I can't or don't have sufficient clean data then my only choice is to decline the assignment. Sorry! Stop trying to make me fix your screwed up system. OTOH Dublin ohio; Not all assignments will have this problem. Now if they can just get those stong minded Independent Reraltors to cooperate
------------------

Having said that above. Remember this: Most of the homes out there are not eaten up with these kinds of problems. Everyone seems to be using the one-offs or weird properties to disparage the ansi standard.

I don't know of one house within a mile or two of me that would be a problem using the ansi! Not one!!! In that 1-2 mile circle there are well over a thousand SFR. I could even go two-mile circumference Now older sections of my city you will run into some issues.

I agree completely. I also can only think of a very few homes I have appraised in 28+ years that would cause any kind of "problem". But they were a "problem" before this requirement was put in place. So as far as I am concerned. Nothing has changed.

 

[glenn walker]

If you cant stand in it its not a basement and its just on raised foundation of some sorts.

 

[NJ Valuator]

I am not trying to be a smart azz. But how do you know?

It is a rhetorical question.