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VickieRandall

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Reply with quote  #1 
Does anybody know of any recent sales of Berm style houses in or near Cherokee County?  The house has only one wall that is below grade and none of the roof.  This is FHA so are there any special requirements?
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MikePower

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Reply with quote  #2 
Hi Vickie...

The last berm house I did was in 2004!!!
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stank

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Reply with quote  #3 
A Jim Walter house?
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stank

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Reply with quote  #4 
take care of the basement first.  The rest falls in place.  A berm house is a basement.  A Jim Walter home that never got finished.
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pnalley

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Reply with quote  #5 
GMLS#7558775 785 Tyrone Rd sold 02/17/16 for $189,000. Needed sprucing up.
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Paula Nalley
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BillDing

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Reply with quote  #6 

Quote:
Originally Posted by stank
 A berm house is a basement.  

I hope your not serious.


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MEP

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Reply with quote  #7 
Can a berm home have a basement?
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M. E.

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Randy

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Reply with quote  #8 
We have a house here in Charleston that is a converted "Bunker" that has a lower level? It would be called a berm house wouldn't it.
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BillDing

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Quote:
Originally Posted by MEP
Can a berm home have a basement?

Of course it can. What do you think, the market homeowners great their guests into the main level and say "welcome to my basement. Let's go down into our lower basement below this to watch football"?

Appraisers need to stop getting stuck in the ANSI box.  It's a good parameter for the most part, but it has it's limitations when dealing with the real world. Berm houses would be one of them.  Just because a ranch is built into a hill doesn't mean it has no GLA.  Treat it as you would any house from the INSIDE. How does it function? The berm home layout is the same as a ranch and the main level would still be GLA.  If there is any market reaction from a ranch on grade, then adjust that on a separate line item.  

Lifting a 1200 sf GLA ranch with a basement out of the ground and setting it on the ground doesn't make it a 2400 sf GLA 2 story with no basement.  It's the same house except now you have to walk-up up to the main level. The basement would still be listed under below grade, even though it is not literally below grad. You would compare it to other similar 1200 sf GLA ranches with basements and adjust for the variance, which is the variance of the lifted house.  It has nothing in common with a 2400sf 2 story home where the main level is on grade.

The 1004's has a huge weakness in the "above grade" "below grade".  It's not always that cut and dry. 4 level splits are often screwed up because the appraiser lists the 3rd lower level as GLA because it's on grade, when it still is nothing more than the other basements of 4 level splits and functions the same, except it sunk into the earth a bit more.


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pnalley

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Reply with quote  #10 
GMLS#7059524 1636 Luther Bailey Rd Senoia, Coweta Co. sold in 20013 $247,000
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Paula Nalley
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