Wednesday, April 06, 2011

NAR's Economists' Outlook: State by State estimate of Shadow Inventory

Check out the link to the full article.  Interestng stuff.

Tuesday, April 05, 2011

How hard is it to count a bath?

BATHROOM COUNT


Per GSE UAD Appendix D 1.1 Field-Specific Standarization Requirements, "The appraiser must enter the total number of full baths and partial baths above grade. A three-quarter bath is to be counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not to be included in the bathroom count. The number of full and half baths must be entered, separated by a period. The full bath count is represented to the left of the period. The half bath count is represented to the right of the period."

Tip: The guidance instructs the appraiser to use specific treatment of bathroom counts: "the count of ‘full’ bathrooms to the left of the period and the count of ‘half’ bathrooms to the right."

For example:

1.1 = One full bathroom (toilet, sink, shower) and one half bath (just a toilet and a sink)

2.3 = Two full bathrooms (both have toilets and sinks--one has a tub, the other a shower.) and three half baths

2.0 = Two full bathrooms (Commentary would be used to capture other non-conforming details that do not qualify as a half or full bath, such as, "The house has a sink in the garage and a toilet in the basement.")

The biggest house I have appraised?  8.3 baths.
 
Our MLS has followed this for many years. I guess my days of writing my appraisals "old school" are over.