ANSI -Split Level Property

[Fernando]

So.. you are allowed to count the finished sf of any level on GLA then if you can't measure it.

Imagine how the homeowner reader sees the logic in that? Doesn't make sense.

 

[Lee Lansford]

What about home that are built on a slope that result in less GLA, bedroom and bathroom counts? How do you find comps and make adjustments?

Fannie has told appraisers to report those non-conforming ceiling neighbors rooms in with the room count as always. The appropriate comps for the subject property pre-ANSI and now are the exact same properties.

 

[Terrel L. Shields]

The appropriate comps for the subject property pre-ANSI and now are the exact same properties.

Yep. I don't understand why because something is ANSI defined as non- GLA or whatever, doesn't change the contributory value. It is still the same. The fact you may have to split the non-ANSI SF off as "other" or whatever, doesn't mean it cannot be treated with the same SF adjustment assuming it would have been before. So it really begs 2 questions. What is different value wise? (nothing) and Why is FNMA making this such a difficult task? To what end? If Realtors and Assessors don't adopt ANSI (and there is no reason to believe they will) then it is all for naught. Full of sound and fury and signifying nothing.

 

[sputnam]

You know... if more people actually paid attention there would be less confusion about this issue. As was already stated, GLA is a Fannie term. Fannie has now decided that GLA is to be measured using ANSI Z765-2021 standards and methods. The equivalent of GLA in ANSI is called Above Grade Finished Area. GLA is not a term that is used by or defined by ANSI Z765-2021.

The issue that many raise about the comparables is nonsense. Unless you measured the comparable, you have never known exactly how the SF of the sale was determined. Nothing has changed in that regard.

So, whether you like it or not, all you have to do is learn how to use the ANSI standard and then use it.

 

[Tom D]

so taking FNMA GLA & ansi GLA is like taking a tomato, and a carrot, and making a drink called V8 GLA.

 

[Amy Perkins]

FNMA always allowed an exception. Just now you have to state the exception code GXX001

Below grade means below the earth not below quality

 

[Terrel L. Shields]

Unless you measured the comparable, you have never known exactly how the SF of the sale was determined. Nothing has changed in that regard.

But that also begs the question...so how does it help you analyze the differences in size? It doesn't. You have to make a judgment call either way. Perhaps next they require you to NOT make a SF adjustment, rather base all values on room count and utility. Oh, won't that be fun?

 

[residentialguy]

Below grade means below the earth not below quality

I understand what grade is, lol. But functioning GLA can be below grade. For that matter, levels on grade can be considered a basement. I've owned 3 split foyer homes and on one of them, the basement was on grade. But make no mistake, it was a basement just like the others. Nothing in common with a 2 story, nor did it compare to homes with double GLA like some anal ANSI morons would have you try to believe because they counted the grade level basement as GLA.

The purpose that appraisers use GLA is to measure similar homes in a similar manner. That's why when you have a house that is sitting atypically in/on grade, you ignore the grade and make an exception so that the subject and comps are compared similarly... in the same manner how that type of house typically is measured and compared.
The contributory value of GLA vs basement is what ever the market dictates. Labels don't change that.

 

[sputnam]

so taking FNMA GLA & ansi GLA is like taking a tomato, and a carrot, and making a drink called V8 GLA.

Funny.. but... no. It's two different organizations using different names for more or less the same thing. I do like V8 though.

 

[Carnivore]

After four months, we are still confused with ANSI.
As I expected, Fannie was too ambiguous for many appraisers on ANSI especially with above and below grade.
Time for Fannie to reevaluate ANSI because many measurements coming out now are inconsistent from misunderstanding of ANSI.

Here this will help you

https://www.cubi.casa/for-appraisals/?referral=workingre2382022

Question: If you use this tool are YOU measuring per ANSI? I say yes for several reasons.

1. YOU used the APP just like you used a 100 Ft Tape or a Laser.
2. Is this app accurate? Yes, it is no more/less inaccurate than a 100" tape or a Handheld Laser or combination of both.

Question: Should FNMA adopt this Cubi.casa App or a Competitors App? I say yes! It saves Time, It is consistent with ANSI. The only error is exterior/interior wall thickness of each subject. That would be a universal MINOR error for all Subjects. Another Potential Problem with Cubi-Casa might be on Upper Floors that have for example a Bonus room common over garages that has a Knee Wall.

What do you think Nando?