I was recently asked by a client if an unpermitted addition can count in your heated square footage. I thought this was an excellent question so I sought out the answer from a local, trusted appraiser, Shannon Julian.
In my State, North Carolina, the Real Estate Commission's position is that, "unless the upgrade is"legal," any additional square footage as a result of an illegal addition can not be listed in the MLS as heated square footage.
In contrast, the North Carolina Appraisal Board takes the position that, "if the additional square footage still results in zoning compliance, the square footage can be used in an appraisal. If an appraiser finds an unpermitted addition, they are suppose to include that fact in the body of the appraisal.
You might ask how an appraiser or Realtor would figure out if there is an addition. This can be found in a discrepancy between the tax records and the actual measurement of the house or the homeowner may directly tell you.
This is a very important point for all Realtors to consider when we are listing properties. We should always be asking if there are any additions to the property and if there are, we need to ask the next question, was the addition permitted.
A few years ago I strongly recommended to a seller that he finish his unfinished bonus room in order to sell the house. He was able to get this done at an incredible price to make it worth the trouble. When I went to list the property, I asked about the permit and low and behold, he did not have one. I asked him to contact the town and have the room permitted. It was a very easy and painless process -- even after the fact.
Average Stats Based on 16 Sales – Single Family Homes “Larger Lots”
|
|
Beds |
Baths |
SqFt |
LP |
SP |
SP/LP |
DOM |
|
High |
5 |
5 |
4,728 |
$959,000 |
$935,000 |
97% |
222 |
|
Low |
4 |
3 |
2,804 |
$465,000 |
$455,000 |
94% |
2 |
|
Average |
4 |
3 |
3,567 |
$648,521 |
$633,250 |
97% |
59 |
Average Stats Based on 10 Sales – Single Family Patio Homes
|
|
Beds |
Baths |
SqFt |
LP |
SP |
SP/LP |
DOM |
|
High |
5 |
3 |
3,011 |
$436,000 |
$420,000 |
96% |
128 |
|
Low |
3 |
3 |
1,876 |
$325,000 |
$323,000 |
99% |
8 |
|
Average |
4 |
3 |
2,242 |
$362,450 |
$353,750 |
98% |
56 |
Average Stats Based on 3 Sales – Townhouses
|
|
Beds |
Baths |
SqFt |
LP |
SP |
SP/LP |
DOM |
|
High |
4 |
5 |
3,322 |
$375,000 |
$375,000 |
100% |
139 |
|
Low |
3 |
3 |
2,001 |
$310,000 |
$300,000 |
96% |
86 |
|
Average |
3 |
3 |
2,669 |
$341,633 |
$333,666 |
97% |
132 |
Average Stats Based on 6 Sales in Ironwoods
|
|
Beds |
Baths |
SqFt |
LP |
SP |
SP/LP |
DOM |
|
High* |
4 |
4 |
4,334 |
$614,900 |
$625,000 |
101.64% |
113 |
|
Low |
3 |
2 |
2,035 |
$415,000 |
$399,000 |
96% |
1 |
|
Average |
3 |
3 |
3,146 |
$529,300 |
$521,416 |
98% |
24 |
* This home was new construction.
If you only want to monitor home values in the area, Team Jodi offers this service as well. Check out our Market Snapshot Feature.
These are but a few of the headlines coming out of Chapel Hilland Durham as the always much anticipated first showdown of the perennial ACC heavyweights approaches on Feb. 11. This first encounter will be at home for Duke. But if we read the headlines, it might not seem that this years battle will live up to the quality of those of the past. Don't Believe It! If on any given year, either team were to come into the contest without a single win in the season (and THAT will never happen), the UNC/Duke matchup would be the one that every basketball fan, especially every ACC fan, longs for. Both teams rise to the occasion every time. Both teams pull out all the stops every time. Both teams will fight for the win at all costs, every time. Yeah sure, Duke is now 3-0 in ACC league play and UNC is 0-2, but tonight UNC travels to Virginia and you can bet that the Cavs are not happy that UNC comes in with 2 losses. The Heels want a league win bad and Virginia is the unlucky one that is next on the schedule. And, what do you know, the Heels Won!!!
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Whether you are buying or selling property in Chapel Hill, Carrboro, Durham, Hillsborough, Raleigh, Cary, or Apex NC, Team Jodi provides seamless customer service throughout the transaction.
Jodi Bakst, Broker, Realtor, CRS, GRI, ABR, CLHMS, CDPE
Jodi Bakst has lived in Chapel Hill since 1990 and been a Realtor since 1997. She is known in her market as a consistent top producer because she is focused on real estate as a true business. She has spent years building a very effective Team. She goes to great lenghts to effectively use technology in her business. She has two excellent buyer agents with incredible experience in design, real estate law, and negotiation. They all have exceptional experience with the relocation process and the local schools throughout Orange, Durham and Chatham Counties. Jodi is a Broker, and holds the following designations, Certified Residential Specialist, Certified Luxury Home Marketing Specialist, Certified Distressed Property Experts, Graduate Realtor Institute and Accredited Buyer Representative. She is also on the North Carolina Association of Realtors Forms Committee and the Greater Chapel Hill Association of Realtors Board of Directors. She is married with two children and is active volunteer in the Jewish community. She has an MA in Public Health from UNC-Chapel Hill and a BA in Economics from the University of California Santa Cruz.
You can contact Jodi Bakst at Jodi@TeamJodi.com.
"We want you to know how much we appreciate all that you did to make the sale of our house happen, and so quickly! We have never worked with a more dedicated Realtor - we felt that we were your priority and that you bent over backward to make everything go smoothly. Thank you so much for the time, resources, and care you put into us. We will certainly highly recommend you to anyone we can! Lisa & Mike Carboni Jodi and her team were professional from the moment we met them. When we saw the brochures she designed for our home, we were amazed at the color and the format. They were top notch. Jodi kept us posted Arnold & Fern Rothman
throughout every step of selling our home. Every phone call was returned immediately. If she was out
of the office with a client, her assistant Jeff would contact us. It was very apparent they had total
communication throughout the process; Jeff is extremeley in tune with everything that is going on.
Jodi sold our home in 5 weeks! Her exposure in the realty world seems far greater than any realtor.
Being extremely detailed oriented sellers, we realized Jodi was so competent that we left most of
the process to her; she was truly one step ahead of us. This was the most stress free sale of a home
we have ever been through. Jodi also got us more for our home than we were going to settle for. We highly
recommend Jodi and her team; using any other realtor in our opinion would be a big mistake!
“We interviewed five agents before choosing you. We were incredibly impressed with your presentation. We were not getting an agent...we were getting a team. You kept every promise you made. We were confident that through your extensive systems our home was well marketed to Realtors and buyers. Your brochure on our home was gorgeous. You helped put our house in the best light with the use of your interior design specialist. You had us under contract with a back up offer quickly and for more money than we imagined. Thank you for everything. Your teamwork, professionalism and knowledge of the business put you over the top.”
Richard and Cami Gilman Previous Owners of 125 Cedar Lane Farm, New Hill
“Sue and I were very pleased with the results achieved after listing our house for sale with you. The house sold within days at our asking price with a back-up offer on the table. We believe that these results in a large part were due to your advice for preparing our house for sale and the activities that you undertook to market the house to other realtors and potential buyers. We could not ask for better service before, during, and after the sale than that we received from you and your team Thank you for all that you did.
”Tom and Sue Covalla Previous Owners of 8400 Sterling Bridge, Chapel Hill
“We are very grateful to Jodi and her Team for helping us sell our house on the terms owe wanted after only one week. The marketing plan and preparation of our house for showing were done beautifully, and up until closing every time I asked “Please, take care of this,” they did. Great job!”
Ted and Nancy Salmon Previous Owners of 1706 Claymore Road, Chapel Hill
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