Standardized Property Measuring Guidelines

[residentialguy]

So here is my first ANSI question. What does it say about an attached casita with an exterior only entry?

Or even a better question... how about an attached 4 season porch that you walk into from the interior? On slab, which is more typical out west, it's a bit easier... but in the Midwest, you're ususally dealing with basements. When you count the porch as GLA, you now turned your full basement to a partial basement (since porches are typicallyon slab). Not a huge deal, but it is messier. Most times I would not count it as GLA, rather reflect it's market value as a 4 sea porch on the porch line. Now all my comps are much cleaner with the same basements. Once in a while it makes more sense to include it in GLA... it's one of those things that the appraiser can move in order to make the most sense with the report. Even with houses on slab, it can make more sense to not count it in GLA if you don't have the comps to bracket that change in GLA.

If ANSI doesn't like that, they can KMA

 

[CGinMN]

"2.3 Finished Area: An enclosed area in a house that is suitable for year-round use based on its geographic region, embodying walls, floors, and ceilings that are similar to the rest of the house."

 

[KenAZ]

Let me ask you this. Do you compare a 2100 sf house with 400 sf casita to a regular 2500 sf house? Shouldn't there be some form of obsolescence for access to the casita? Luckily, homes with casitas are typically in like/kind neighborhoods with similar house and casita properties. Where did I hear that apples to apples reference.

ANSI says if finished areas connected to the main body of the house with other finished areas (hallways, stairways) are include in the final square footage. Finished areas that are not connected to the house in such a manner (you have to go outside to access the other areas) cannot be included in the finished square footage on any level.

Once again, it does not mean it does not have value, but you need to have paired sales to show the value of that improvement.

Since the casita is attached, it would cost under $1,000 to install a door between the Casita and Main Home, thus making it livable. I think the best way to approach this is to include the Casita and subtract $1,000 for cost to cure. With ANSI, we can no longer do that.

 

[Tim Hicks (Texas)]

Since the casita is attached, it would cost under $1,000 to install a door between the Casita and Main Home, thus making it livable. I think the best way to approach this is to include the Casita and subtract $1,000 for cost to cure. With ANSI, we can no longer do that.

It is what it is. People buy homes with casitas for a reason. If they wanted that door, they would have it already. It has a limited market appeal, but it does a market appeal to some. Fannie Mae has always had the same rules with regard to non-congruous living area. Separate it.

 

[djd09]

Since the casita is attached, it would cost under $1,000 to install a door between the Casita and Main Home, thus making it livable. I think the best way to approach this is to include the Casita and subtract $1,000 for cost to cure. With ANSI, we can no longer do that.

exception code

 

[KenAZ]

It is a highest and best use problem. When these homes were new, customers had an option of either a 3rd garage or Casita. The Casita cost $25,000 more than the garage.

So, is the home worth more as a separate casita, or converted to GLA by installing a door. ANSI really has no idea.

 

[Mejappz]

It is a highest and best use problem. When these homes were new, customers had an option of either a 3rd garage or Casita. The Casita cost $25,000 more than the garage.

So, is the home worth more as a separate casita, or converted to GLA by installing a door. ANSI really has no idea.

I'm starting to see more and more of these Casitas in new construction. 25K seems about right. And yes, ANSI has no clue.

 

[djd09]

what about third floor attics?

 

[Mejappz]

ANSI is yet another in a long line of reasons why the government should get out of the business of subsidizing lending and insurance they have no clue. Special interest( look at Bryan Reynolds, "USPAP instructor," and ANSI fanatic). He has had a hard-on ever since the news broke. Trust me, ANSI will fail just like the 1004MC. Fannie still has a chance to save face, but their pride will get in the way.

 

[KenAZ]

So what does ANSI solve?

Inaccurate Measuring?

LOL. If an appraiser can't measure to the nearest 1/2 or Foot, he can all in sudden measure to the nearest 1/10th foot? (Defies logic)