In Corvallis how is daylight basement space valued? Is it considered worth some % of above grade space? Seems like this varies by state.

Asked by LinnHomeowner, Lebanon, OR Mon Aug 26, 2013

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Lana Lavenba…, Agent, Grants Pass, OR
Tue Aug 27, 2013
It not only varies by state it varies by where you are located. Some day light basements are a must due to the type of weather, etc. So, make sure you contact a local realtor to help you with that!
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Dava Behrens, Agent, Corvallis, OR
Tue Aug 27, 2013
There's really no set rule of the thumb "percentage" to determine value of daylight basement in relation to above grade. A great deal of "value" is tied to fit and finish and how the space really lives. High ceilings? low ceilings? hanging duct work? are there bedrooms and baths? or kitchenette/kitchen? Are the finished areas permitted? How really useful is the space? Is it easy to access outdoor living? How big is it in comparison to the rest of the house? How big is the overall house? How does it fit with the surrounding neighborhood? A ton of factors come into play. Best to compare apples to apples and try to find comparable sales/pending/active in the market to use as benchmarks.
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Jill Schuster…, Agent, Corvallis, OR
Mon Aug 26, 2013
Depends. If you're a bank appraiser, then we often hear them say that they value square footage among like properties. So, they would look for comps for a daylight basement home among those recent sales that also had daylight basements. Similarly, a two story home would have comps of other two story homes. If you're a Buyer, most Buyers seem to have a preference for the potentially higher ceilings and additional light that a two story home would have over a daylight basement style. But, often daylight basement homes are built that way to take advantage of a view. We have so few data points, that it's often hard to distinguish between the various factors. I don't see people using any kind of formula re: how they value daylight basement space. Best thing to do in answer to your question is either a market analysis of comparable properties (CMA) or have an appraiser complete an appraisal.
Jill Schuster, Principal Broker, Town & Country Realty, 541-619-5427 direct.
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