FNMA bedroom definition

[Mike Ault]

You'll have that

I don't "have" anything. Who have you been talking to?

 

[Dublin ohio]

I don't "have" anything. Who have you been talking to?

 

[Mike Ault]

I'm not sure which "three letter agency" you work for, but I'm certain that you are overpaid.

 

[Dublin ohio]

I'm not sure which "three letter agency" you work for, but I'm certain that you are overpaid.

With appraisal volume basically non existent. got to make ends meet somehow. I do belong to the NAR. But I have to pay them

 

[Fritz in NY]

Slower Market, TAX time, Now we are assessing our multiple fees for data that should be FREE, I know I'm in the $ 900 Range per year. Plus I have to pay for other MLS fees out of my main area next to me, and other NAR education ($800 yr) that are required to find the data, FOR THEM, most of my time, it should be FREE. I'm sure if we failed, or undervalued, all we have inspected for a while, the people that take our money will wake up and give us data for their income.
I don't want to address my E&O fees of $ 700+ for something I never needed' for over 3 decades, $ fill in the blank. NAR is just sucking money from us.

 

[Fernando]

ANSI provides that you maeasure to the inch.... OR... the 1/10th of a foot. Appraiser's choice. Both ways are compliant.

ANSI measuring to the inch or 1/10th of a foot has got to be most asinine idea agreed by Fannie.
Statistically speaking measuring to such manute detail is a waste of our time. Anyone knowing Stats know this.
There ae other more significant issues Fannie should be considering.

 

[sputnam]

ANSI measuring to the inch or 1/10th of a foot has got to be most asinine idea agreed by Fannie.
Statistically speaking measuring to such manute detail is a waste of our time. Anyone knowing Stats know this.
There ae other more significant issues Fannie should be considering.

um.... measuring to the nearest inch is 1/12th foot... which is more accurate than 1/10th foot. Rounding to the nearest whole foot can, in some circumstances, produce significant errors in square footage. Then, that error may be compounded by the fact that unless it's a dwelling that you've personally measured, you don't really know the SF of the comparables.

I'm not sure how you think you know what Fannie is considering. GLA remains what we are expected to report. Before ANSI was mandated, appraisers measured and calculated in many different ways. Now... at least theoretically, all appraisers who measure and calculate SF for a GSE loan, do it using the same standard. It wasn't adopted to be better for Fernando... or any other appraiser. It was adopted for the benefit of the people who buy and use appraisals.

 

[ucbruin]

"Rounding to the nearest whole foot can, in some circumstances, produce significant errors in square footage."

I disagree....

 

[Fernando]

um.... measuring to the nearest inch is 1/12th foot... which is more accurate than 1/10th foot. Rounding to the nearest whole foot can, in some circumstances, produce significant errors in square footage. Then, that error may be compounded by the fact that unless it's a dwelling that you've personally measured, you don't really know the SF of the comparables.

I'm not sure how you think you know what Fannie is considering. GLA remains what we are expected to report. Before ANSI was mandated, appraisers measured and calculated in many different ways. Now... at least theoretically, all appraisers who measure and calculate SF for a GSE loan, do it using the same standard. It wasn't adopted to be better for Fernando... or any other appraiser. It was adopted for the benefit of the people who buy and use appraisals.

Appraisers in past may measure differently but the gross area were not way off from assessors records. Appraisers were able to use their measurements to complete a report.
Appraisers who measured "incorrectly" should have been called out and penalized.
It wasn't to make better appraisals. Fannie's end game is to standardize the measurements for their AI database. It was for Fannie's interest, not ours.

 

[sputnam]

"Rounding to the nearest whole foot can, in some circumstances, produce significant errors in square footage."

I disagree....

Of course you do... disagreeing with forumites appears to be your schtick... however, depending on the configuration of a dwelling... significant errors are possible when rounding dimensions to the nearest whole. Whole foot is what most assessors do... and the Forum is full of appraisers talking about inaccuracies in tax records.