Quote:
Originally Posted by Seeker
Another thing they do is if you have a shower, sink and toilet which I always considered a 3/4 bathroom if it has 3 fixtures, regardless of what they are, it is a full bath. Try selling that to a realtor.
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What you describe is a 3/4 bath, but a tub/shower makes a full bath, same amount of fixtures, not saying that is what you have. Realtor appraisals add value to every thing in the home such as windows, wood vs vinyl vs composite, but a bank or town appraisal a window is a window, they do not care if they cost $150 a piece or $1,500. The same goes for bathrooms, its full, 3/4 or 1/2, not full with custom tile shower and whirlpool.
That is just my personal experience and having access to a bank appraisers worksheet, town value, bank value and market value have always been different, the latter is based on demand and they should not be using home sales to jack up values for tax reasons. It is not a difficult thing to calculate actual value based on finishes, but they are looking for the quick and easy way out. Maybe I am wrong about the value side of things, and feel free to tell me so.