Baton Rouge FHA Appraiser Explains ANSI Standards 5′ Sloping Wall Height Rule

http://www.appraisersinbatonrouge.com/ – Baton Rouge FHA Appraiser Explains ANSI Standards 5′ Sloping Wall Height Rule

 

Based on my experience, the ANSI 5′ Slanted Wall Height Rule is one of the most misunderstood or ignored rules for measuring homes. I recently took the time to draw a diagram illustrating the rule based on ANSI Standards, Z765-1996, Page 2, which states,

“ To be included in finished square footage calculations, finished areas must have a ceiling height of at least 7 feet except: under beams, ducts, and other obstructions where the height may be 6 feet 4 inches; under stairs where there is no specified height requirement; or where the ceiling is sloped. If a room’s ceiling is sloped, at least one-half of the finished square footage in that room must have a vertical ceiling height of at least 7 feet; no portion of the finished area that has a height of less than 5 feet may be included in finished square footage.”

See the Diagram and Video Below:

 

Author’s Bio:

Bill Cobb is Greater Baton Rouge’s favorite and reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 21 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500

Cell: 225-953-0638
Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.getfastvalue.com

Baton Rouge Video Tours: Real Estate Market Report Of Villa Del Rey Subdivision 2011

http://www.appraisersinbatonrouge.com/ – Baton Rouge Real Estate: How Is Villa Del Rey Subdivision Performing Into 2011, Increasing, Declining or Remaining Steady?

Potential $20K Loss. This is an on-going series into the decline of Greater Baton Rouge Home Values and why potential buyers should beware and not pay too much for “some” local overpriced listings. YES, there are overpriced listings in the Greater Baton Rouge Housing Market! Bill strongly recommends in this housing environment to obtain a Pre-Purchase Appraisal to gain ALL of the facts before making a local home purchase decision. In the appraisal I recently completed, the home sold for $155,900 in 2007, a Post Hurricane Katrina high price, and is now on the market for $136,000. If this home sells for $136,000, then homeowner only loses $20,000 and will lose a total of $28,160 after paying the selling commission.

Villa Del Rey Subdivision Baton Rouge

 

A recent home appraisal in and analysis of Villa Del Rey revealed this interesting finding. From 2009 to 2010 to 2011, the median sales price has declined from $145,000 to $137,500 to now $136,000 (chart below is not updated) into 2011 based only on 3 sales. This drop is due to foreclosure and/or distressed sales. Actually, the chart below is incorrect because GBRMLS reports “38” solds in 2010, not just 33, with a median of $137,500. Of those 38 sales, 11 or 29% were foreclosures, which is quite high. And, in 2011, the 3 solds only sold for $119,000, $136,000 and $139,000 indicating these sold below market.

THE CORRECTION IN HOME PRICES – This is becoming the familiar “Stair Step Up and Down”…..The Climb And Then Descent Of The Stairs In This Chart Below Visually Explains The Correction!

mls

 

Villa Del Rey Homes

 

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to May 3, 2011. This information was extracted on 5/3/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

AUTHOR’S BIO:

Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/

Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase

http://www.batonrougerealestateappraisers.net/ – Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase!

shenandoah-hills-entrance-baton-rouge

Solds In Shenandoah Hills Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $146,357 ($133,260 in 2009)
Average Sold Price Per Sq. Ft.: $108.12/sf ($99.34/sf in 2009)
Median Sold Price: $149,500 ($132,500 in 2009)
Number of Sales: 7 (5 in 2009)
Average Number of Days On Market: 44 (48 in 2009)
Low To High: $129,900 to $152,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 3, 0 Are Foreclosures
Current Listings Price: $140,900 to $150,900 or $105 to $113/sf

Shenandoah-Hills-Price-Trends-Baton-Rouge

3707-JAMES-VICTOR-DR-Baton-Rouge

 

The Median Sales Price has increased from $132,500 in 2009 and $144,000 in 2008 to $149,500 in 2010.

 

3632 MERRITT ANNE DR

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to December 31, 2010. This information was extracted on 1/1/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

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Baton Rouge Real Estate

Baton Rouge Real Estate
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www.batonrougerealestateappraisal.com - Baton Rouge Real Estate Housing Market Report

Baton Rouge Real Estate News: Riverbend Landing May 2010 Report

Baton Rouge Real Estate News: Riverbend Landing May 2010 Report
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www.batonrougerealestateappraisal.com - Baton Rouge Real Estate News: Riverbend Landing May 2010 Report. Data provided with permission of the Greater Baton Rouge Board of Realtors and extracted on 6/11/2010 in MLS Area 52 for Riverbend Landing.