I had an appraiser do our spec house and he told me they don't count the basement. Finished or not! So for instance in my house I probably have over $40,000.00 just in my basement that counts no more than as if it were just a concrete slab floor. What's wrong with this picture? It's no wonder so many nice houses are appraising so low. Bank and appraisal problems are discussed in this article.
Fuzzy, Frustrating Economics