Square footage GLA

[PropertyEconomics]

Thank you everyone for your reply's. I don't know how many of you guys are from the great state of New Jersey out there, but if you don't know, let me tell you that in some cities (In this case Jersey City) the tax office personnel aren't to helpful and the information is usually older then dirt. Never mind the Parking to go into the City Hall $$. Also in the past I came across a few Part Time tax assesors and no one else wants to do the others(tax assesors) job.

I spoke to a friend of mine who is a General appraiser and is now a Tax Assessor and he briefly told me (He was at a family party and couldn't get into it) about using the equalized assessed value to compare the properties if the Sq. Ft. isn't available. Anyone know anything about this? Thanks again for you time!

HAVE YOU THOUGHT ABOUT CALLING THE AGENTS? You seem to be stuck on this assessment stuff.

 

[gerard20]

Property economics, thanks again for your reply but I don't think you understand New Jersey. If I call the agents, I can guantee that they won't be to helpful. Anyway I would feel more confident in my guesstimation then what they would have to say. I just want something that is concrete in case it comes back to haunt me.
If the report goes into review and the review appraiser asks were did I get the GLA from I could only imagine what would happen if I tell him the real estate Agent gave it to me! Also a few people mentioned County tax office. I used to live in Fla. for a while and they are broken down to counties but in NJ the towns and cities are their own entity. Thanks again, sorry to be a pain!

 

[Blueprint]

Anyway I would feel more confident in my guesstimation then what they would have to say. I just want something that is concrete in case it comes back to haunt me.

Why can't you just use another comp? If this one in particular is such a great comp, throw it in as a 4th or 5th comp, guesstimate the GLA and explain, explain, explain that you can't verify the GLA and that you can't give it any weight, yet it does help to support the value.

 

[BRCJR]

"I reckon thangs is difurint in Jusry", but in my area we knock on the door of the comp, speak about their nice home and find out all we can. They may have a copy of the appraisal with the GLA. Depending on the appraiser that performed the assignment, I would use that number or ask if I could measure their house.

Works here, but maybe not there.

 

[BNICK]

Is the comp from the MLS, in Illinois the MLS listings have room dimensions, when I cannot find the GLA I add up all the dimesions of the rooms and do ratios based upon if it is a ranch, two story

 

[PropertyEconomics]

Property economics, thanks again for your reply but I don't think you understand New Jersey. If I call the agents, I can guantee that they won't be to helpful. Anyway I would feel more confident in my guesstimation then what they would have to say. I just want something that is concrete in case it comes back to haunt me.
If the report goes into review and the review appraiser asks were did I get the GLA from I could only imagine what would happen if I tell him the real estate Agent gave it to me! Also a few people mentioned County tax office. I used to live in Fla. for a while and they are broken down to counties but in NJ the towns and cities are their own entity. Thanks again, sorry to be a pain!

I come from a place where development of relationships with agents is required becasue we dont have public data. I see too many relying on that and sorry, it makes no sense to me. I am forced to do other things. Looks like you are left with guestimation ... no assessor data, no agent data, no MLS data, looks like you guess or you dont use it as a comparable. How sad for your market area.

 

[TJSum]

I come from a place where development of relationships with agents is required becasue we dont have public data. I see too many relying on that and sorry, it makes no sense to me. I am forced to do other things. Looks like you are left with guestimation ... no assessor data, no agent data, no MLS data, looks like you guess or you dont use it as a comparable. How sad for your market area.

I am in shock that so many are giving answers that do not include actually getting out of your car when you take the photo and measure the comp yourself. Unless it is a condo or townhome, just get the best measurement you can given the lay of the land. Up until 15 years ago, almost all of Maryland had to be done this way because GLA was not on Public Records and if/when the agents put it in the MLS, usually it was wrong. Of course there are obstacles, but do the best you can given the circumstances and then disclose, GUESSTIMATING does not cut it. m2:

P.S. Not just picking on you PE, just quoted it as it was the most recent example.

P.S.S. This method still can be used today, to confirm the Public Record data.

 

[Blueprint]

I come from a place where development of relationships with agents is required becasue we dont have public data. I see too many relying on that and sorry, it makes no sense to me. I am forced to do other things. Looks like you are left with guestimation ... no assessor data, no agent data, no MLS data, looks like you guess or you dont use it as a comparable. How sad for your market area.

I agree whole heartedly that building relations with agents is key. That being said, it is all locational as to what your best sources of data are. You really should not feel sorry for others in different areas. I am proud to say that I rely on pub recs as my first source for comps over agents.

Where I appraise, public records, 9.9 times out of 10, is the most accurate source of data. Looking at the many props we have appraised and compared the numbers to pub recs, pub recs has proved to be the most accurate source of data. Maybe we are unique as all improvements are listed separately with the GLA and other pertinent data listed separately.

Outside of the few good ones, most agents in our area include all improvements into their GLA and lump it into the MLS GLA. Also, they tend to push the numbers a bit high for selling purposes, be it over the phone or on the MLS. It really depends where you appraise as to what your best sources of data are.

 

[PropertyEconomics]

I agree whole heartedly that building relations with agents is key. That being said, it is all locational as to what your best sources of data are. You really should not feel sorry for others in different areas. I am proud to say that I rely on pub recs as my first source for comps over agents.

Where I appraise, public records, 9.9 times out of 10, is the most accurate source of data. Looking at the many props we have appraised and compared the numbers to pub recs, pub recs has proved to be the most accurate source of data. Maybe we are unique as all improvements are listed separately with the GLA and other pertinent data listed separately.

Outside of the few good ones, most agents in our area include all improvements into their GLA and lump it into the MLS GLA. Also, they tend to push the numbers a bit high for selling purposes, be it over the phone or on the MLS. It really depends where you appraise as to what your best sources of data are.

As much as we may complain ... the agents here are very very good then. It is mandatory the enter the sq ft in MLS and cite the source of their determination.
I would mention measuring but not sure one if the owner would let you but it never hurts knocking on the door.

 

[Mztk1]

Gerard, I know Jersey as I appraised there for a handful of years, I understand your plight.

Normally what I did was have a wheel in the car, eyeball the front from where it begins to ends, and run the wheel. Then I'd run up against the side of the house and measure that and peak around the back for protruding additions.

Inner cities with row housing or houses separated by only 3 feet were the easiest. You can easily run the sidewalk and then down that concrete path between the two with the residents not knowing if you were there for the neighbor or for them. Never had a problem, even with people talking right in the kitchen with the window open.

Suburbia was a bit different. If it looked like someone was home or it might not be easy to run along the side of the house without getting caught, I'd knock on the door. When owners were home they never let me not do it, if they weren't, they couldn't say no.

You are right about the agents. They will help you a ton with lots of info. I'd get call backs at 11:30PM and later. But as for helping with square footage? Impossible.