Standardized Property Measuring Guidelines

[sputnam]

Yet again, appraisers whine and complain about changes. We did the same thing when the URAR was created, the same thing when UAD was adopted, and the same 'end of the world as we know it' when we had to start using the 1004MC. This is happening. If you want ot do work for GSEs, you will measure subject properties in accordance with ANSI Z765. Is swtching to ANSI going to make us all better appraisers? No.

 

[ramrcdk]

They hire it done to avoid the liability....guess who gets it.

What does the board say about barns and outbuildings?

Well, first the BIC and in that his slack-lack of mandating "best efforts".
Barns & such Honestly, good question.

 

[ramrcdk]

So does ANSI not consider this Living area? The market and assessor do if you don't get ready for an avalanche of complaints in Florida. And borrowers and sellers becoming apoplectic.

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Another great question to add to the Concern List. Has your State mandated Realtors are to follow ANSI?

 

[jay trotta]

U want Apples to Oranges....wonder how the courts will view that scenerio; am just going to say; the Feds made me do it, it's a Standard required to follow.

 

[Steelers74]

Wouldn't it be nice if we just used a standard that actually made more sense to the real estate market and could be used and easily understandable to ALL market participants, instead, it will now be us using ANSI and everyone else still using a more common sense, real world based standard.

 

[Tim Hicks (Texas)]

Another great question to add to the Concern List. Has your State mandated Realtors are to follow ANSI?

Since when do Realtors determine what is GLA and what is not? If it is not finished equal to the main living area and not suitable for year round use it is not GLA. Here in Texas, enclosed patios that are not centrally heated and cooled are not suitable for year round use. Most listings I have show the dimensions of the sun room or the tax shows the patio area. The appraiser determines the value of the sun room based on the market reaction. You should have plenty of data to show the value of the sun room. It may be the same as the GLA, but that is for the market to determine. We are not the pawns of Realtors.

How is the gross living area measured and calculated?

selling-guide.fanniemae.com

Looks like we are supposed to be using ANSI as of December.

 

[Terrel L. Shields]

I'm waiting for them to demand we get Land Surveyors licenses and measure lots to Land Survey standards. After all, land values sometimes exceed the value of the improvements.

 

[Fernando]

MLS by default uses assessors records, and realtors rely on them in selling their properties.
Realtors and public don't understand ANSI and appears technical and won't be "considered" until assessors change their records which many find is the final word.
You can sue appraiser on ANSI measurements but can't sue assessor.

 

[Steelers74]

If none of the market participants use ANSI, does ANSI really reflect the market?

 

[ramrcdk]

Since when do Realtors determine what is GLA and what is not?

THEY don't. THEIR LOCAL BOARD does. Just like US they have guidelines.
So, guess in TEXAS realtor agents & BICs don't have to "actually measure" OR disclose GLA.
SAD for you Texans.