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Appraisers VS Basements Part 2

Yesterday I was at an appraisal appointment, measuring a home for a divorce appraisal.  After measuring, and walking through the house, I showed the homeowner the floor plan on my iPad.  My intent was to make sure that I did not miss any rooms or features, and that the measurements I made were in line with what the homeowner expected.  The homeowner, after looking at the screen, came up with a blank stare, which surprised me.  I asked her if I had missed anything, to which she replied with a “no”, however she was confused because my sketch showed the first level being approximately 2500 square feet, and she was confused because she believed her house was 5000 square feet.  Obviously that was a big difference, which could lead to a substantially lower value for her nice home!
While explaining to her that I did not miss the other 2500 square feet, that was located in her basement, my mind was brought to an article we wrote in the past on  why an appraiser doesn’t include a basement – which was actually an article debunking that myth, along with some additional information on how an appraiser measures a home.  Needless to say, it appeared that I needed to make things a little more understandable for folks that use the services of a salt lake appraiser. Let’s Clarify Again A Picture is Worth a Thousand Words…or at least a couple thousand square feet in the above situation.  What is even more effective, however, is a video showing a real estate appraiser doing an appraisal, in the field.  For this reason, I filmed a video that does a great deal to point out how the appraiser treats and defines basements.  Pay attention as you watch, as there is more than meets the eye upon first appearance of this home.

2 Comments

  1. Gary Kristensen
    January 20, 2014

    Great article Matt. You’re always the most helpful appraiser in Salt Lake. Thanks for all you do.

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