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ANSI confusion...

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Why do so many make this more complicated. Why all of the kerfuffle over measuring to a tenth of a foot. When ANSI also allows measuring to the inch. SMH
 
Dublin ohio said:
Why do so many make this more complicated. Why all of the kerfuffle over measuring to a tenth of a foot. When ANSI also allows measuring to the inch. SMH
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I have a feeling most sketch programs convert inches to tenths if you ask the sketch program to. :)

Same with laser measuring devices. They will round it how you want it.
 
Zoe said:
I have a feeling most sketch programs convert inches to tenths if you ask the sketch program to. :)

Same with laser measuring devices. They will round it how you want it.
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No sheet Captain obvious. Again. Why? ANSI allows measurement to the inch. But if you are using a laser. 10th of a foot would not be a problem. But if you don't use a laser. Why convert to 10th of a foot. Especially since converting most of time ends up being to the 100th of a foot.
 
Dublin ohio said:
Why do so many make this more complicated. Why all of the kerfuffle over measuring to a tenth of a foot. When ANSI also allows measuring to the inch. SMH
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Well, from whatever degree of inaccuracy you state, you can calculate an estimated cost to the borrower (or seller) in terms of the likely extra cash he is going to have to come up with on a loan or money they will lose on a sale.

On average across all borrowers, the cost of the error should be zero. But for individual borrowers or sellers, who are concerned about the worst case we can actually come up with a very good estimate of the worst case scenario. For example, you have a 35.75' x 44.75' home. But you measure it at 36 x 45'. That is 20sf over. Around here a lot of homes are adjusted at $600/sf, so that would be $12,000 approximately that the homeowner would have to come up with in cash because of your error.

All is good and well, if we just agree that appraisers pay for their sloppy accuracy. You pay $12K to the buyer and another $12K to the seller - $24K.

You could follow the policy of always rounding down or up and then only have to pay half that or $12K to the buyer or seller, depending on how you do your rounding. Just convince the other party you are not biased.

Oh, by the way, measuring hundredths of a foot - I don't have to pay anything..
 
IVCA said:
Around here a lot of homes are adjusted at $600/sf
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That would likely be a shame as that would indicate, to me, that land value is included in that adjustment. :unsure:
 
IVCA said:
Well, from whatever degree of inaccuracy you state, you can calculate an estimated cost to the borrower (or seller) in terms of the likely extra cash he is going to have to come up with on a loan or money they will lose on a sale.

On average across all borrowers, the cost of the error should be zero. But for individual borrowers or sellers, who are concerned about the worst case we can actually come up with a very good estimate of the worst case scenario. For example, you have a 35.75' x 44.75' home. But you measure it at 36 x 45'. That is 20sf over. Around here a lot of homes are adjusted at $600/sf, so that would be $12,000 approximately that the homeowner would have to come up with in cash because of your error.

All is good and well, if we just agree that appraisers pay for their sloppy accuracy. You pay $12K to the buyer and another $12K to the seller - $24K.

You could follow the policy of always rounding down or up and then only have to pay half that or $12K to the buyer or seller, depending on how you do your rounding. Just convince the other party you are not biased.

Oh, by the way, measuring hundredths of a foot - I don't have to pay anything..
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What are you talking about. If you are doing purchase. The buyer has already made an offer. Are you saying that that 20sf difference is going to be used as a negotiating point. Knowing you are in CA. you are probably talking about $1-2M houses at a minimum. I know you like to boast about your "accuracy". But if the buyer thinks it is 1500 sf when they make the offer. Are they going to balk when you say 1480sf. Seriously?
 
Dublin ohio said:
No sheet Captain obvious. Again. Why? ANSI allows measurement to the inch. But if you are using a laser. 10th of a foot would not be a problem. But if you don't use a laser. Why convert to 10th of a foot. Especially since converting most of time ends up being to the 100th of a foot.
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I've always bought tape measures that were demarcated in 1/10 of a foot increments, no conversion necessary.
 
DTB said:
That would likely be a shame as that would indicate, to me, that land value is included in that adjustment. :unsure:
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How can you be sure? Could be higher quality homes/condos. I've never adjusted that high but I don't know the markets IVCA works in, could be Beverly Hills for all I know.
 
Mike Ault said:
I've always bought tape measures that were demarcated in 1/10 of a foot increments, no conversion necessary.
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My 100' fiberglass has both 1/10ft and inch.. But I have yet to find a 35' that has both.
 
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