|
|
#306528 - 09/16/09 08:28 PM
Re: total room count
[Re: PalmBeach BPO]
|
Major Contributor
Registered: 02/16/06
Posts: 2525
Loc: United States
|
I have never counted them...with anybody. It has never come up and I have done six or seven of these BPO things...
|
|
Top
|
|
|
|
#306533 - 09/16/09 09:06 PM
Re: total room count
[Re: PalmBeach BPO]
|
Member
Registered: 10/21/08
Posts: 67
Loc: Sonoma County, California
|
My $500 default school advanced evaluation class says dont count the bathrooms.
|
|
Top
|
|
|
|
#306538 - 09/16/09 09:48 PM
Re: total room count
[Re: PalmBeach BPO]
|
Major Contributor
Registered: 06/30/09
Posts: 2257
Loc: Margaritaville
|
It was only with the free RES bpos that I had to add baths. On a regular REO market analysis I do not count them.
ASK AND YE SHALL RECEIVE.:-)
_________________________
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." Dr. Seuss
|
|
Top
|
|
|
|
#306539 - 09/16/09 09:53 PM
Re: total room count
[Re: Grampa]
|
Major Contributor
Registered: 07/13/08
Posts: 2575
Loc: California
|
Grampa
I'll give you one to figure out.......
Subject: 1,000 GLA Bedrooms: 3 Baths: 1 Room count: 11
Information was from county records.
_________________________
PONDERISM:
"Life isn't about waiting for the storm to pass........It's learning how to dance in the rain".
|
|
Top
|
|
|
|
#306552 - 09/16/09 11:08 PM
Re: total room count
[Re: CandyMan]
|
Major Contributor
Registered: 04/12/08
Posts: 5386
Loc: Vermont's North-East Kingdom
|
Maybe a Walk-In Closet should be a room (IF it has a light bulb & a door) ?
I did a Drive-By on an Oldie (1894) last week for the 2nd time in 2 years.
GLAAG = 2938 SF; Rooms = 11; Bedrooms = 9; Baths = 2 1/2.
Last year I mentioned that it had an In-Law Apt of undetermined composition; but still an SFR.
This year they made me comp it as a 2 Family.
Assessors have not been it in for 15 years.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
|
|
Top
|
|
|
|
#306553 - 09/16/09 11:12 PM
Re: total room count
[Re: Vermont]
|
Veteran Member
Registered: 07/13/09
Posts: 800
Loc: USA
|
That's sucky Vermont. I would have had you do it as a SFR with Aux unit. But thats just me. I hate having to find duplex's for SFD's with in-law apts as they just don't seem true comparables to an income property.
Does your area come in lower or higher for Multi's?
J~
_________________________
"Competition brings out the best in products and the worst in people."
|
|
Top
|
|
|
|
#306555 - 09/16/09 11:22 PM
Re: total room count
[Re: ....J~]
|
Major Contributor
Registered: 04/12/08
Posts: 5386
Loc: Vermont's North-East Kingdom
|
Lower. People move to, and live in, Vermont to get away from other people . . . . not to occupy the same building with other Human Beans.
We have only had 12 Two Family's sold during the past 6 months within a 25 mile radius of the Subject. 5 were TOO YOUNG, REO or in a FloodZone, and 4 were TOO SMALL; but then, just like in "Goldilocks and the 3 Comps", three (3) were JUUUSSST RIGHT ! Not really; but they were 100 Years Old and 2800 to 3500 GLA W/2 Units on less than 1 Acre. AMAZING !
Of course, The Comps had the normal compliment of Living Rooms and Kitchens . . . . maybe even a Dining Room. I have no clue what the Subject had: 9 Bedrooms and 2 other rooms. Who knows ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
|
|
Top
|
|
|
|
#306558 - 09/16/09 11:33 PM
Re: total room count
[Re: PalmBeach BPO]
|
Major Contributor
Registered: 08/27/05
Posts: 1731
Loc: Missouri
|
Not all QC folks are created equal?? The fact that field instructions and QC disagree seems proof of that!
I admit that I'm related to an appraiser, and I've always been told that bathrooms and utility rooms do not count in the room count. Decks and garages don't count either.
How does everyone feel about unheated rooms, such as those located in attics and half stories?
_________________________
Broker/Owner, REALTORŪ,GRI, ABR REO listing/selling since 2004; BPOs only for current clients
|
|
Top
|
|
|
|
#306562 - 09/17/09 12:21 AM
Re: total room count
[Re: LizL]
|
Major Contributor
Registered: 02/16/06
Posts: 2525
Loc: United States
|
Not all QC folks are created equal?? The fact that field instructions and QC disagree seems proof of that!
I admit that I'm related to an appraiser, and I've always been told that bathrooms and utility rooms do not count in the room count. Decks and garages don't count either.
How does everyone feel about unheated rooms, such as those located in attics and half stories? In my book, they dont count.
|
|
Top
|
|
|
|
#306565 - 09/17/09 12:33 AM
Re: total room count
[Re: LizL]
|
Veteran Member
Registered: 09/02/08
Posts: 797
Loc: Massachusetts
|
A few years ago I took the appraisal course. Not to become an appraiser, but rather as a means of increasing the quality of my BPOs. One item I recall was that, for the purposes of BPOs and appraisals, bathrooms are NEVER included in the total room count. By definition anything with 4 walls a ceiling and a floor is a room. Using that definition a shed, pantry, closet, DOG HOUSE, CHICKEN COOP could be said to be a room. Tell that to the wizard from India the next time it comes up. Regarding unheated rooms, attic rooms. I'd count them but adjust one way for the fact that it's a 3 season, low headroom, etc. or don't count it and adjust in the opposite direction. Now on to those cases where they insist the in-law apartment constitutes a 2 family. Make an adjustment to reflect removal an illegal unit, or the cost associated with having the property rezoned. Or adjust for a single family with an extra kitchen. The less experience a QC person has, the more experience the BPO provider needs.
|
|
Top
|
|
|
|
#310116 - 10/18/09 07:50 AM
Re: total room count
[Re: smg]
|
Member
Registered: 08/12/09
Posts: 130
Loc: USA
|
I have never counted them...with anybody. It has never come up and I have done six or seven of these BPO things... I also have done 6 or 7 of these BPO things, and have always counted them...with everybody. And likewise, I have never had an issue. As for all you guys/gals who keep asking "can you live in a bathroom." It seems to me that is kind of a dumb argument for this discussion. I can live in my bathroom just as easy as I can live in my living room. (I might actually prefer the bathroom given the availability of a toilet and shower...and drinking water is nice too.) It may be the case that bathrooms should not be used, but it isn't because you can't "live" in them.
|
|
Top
|
|
|
|
|
This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
|
|
Registered: 09/07/08
Posts: 119
|
|
|