Below Grade Finished Doesn't meet ANSI

[Dublin ohio]

OK. Answer this:

Basement below grade finished and heated.

Ceing height of 5'.

Watta you going to do?

It is functionally obsolete. Glorified storage or ADU for Munchkins. Still below grade. Still not GLA

 

[shrubberyvaluation]

I haven't taken the ANSI course yet. I have one question. Is the vaulted area in a foyer counted as GLA? It is not "walkable" or "useable" space.

The open foyer is not (except above the stairs), I'd assume its not in other areas too.

 

[shrubberyvaluation]

OK. Answer this:

Basement below grade finished and heated.

Ceing height of 5'.

Watta you going to do?

Same as before. Functional utility. Most people don't want 5' ceiling height.

 

[glenn walker]

How is everyone addressing finished below grade (Heated and same condition/quality as GLA) but only measures 6.8ft in height in a UAD form?

Just list it as basement area with 0sf finished or address it in one of the blank fields at the bottom of the form?

Its not 5 feet its 6.8:

Same as before. Functional utility. Most people don't want 5' ceiling height.

Its not 5 feet its 6.8- Not bad for a basement I see no issues.

 

[Overimprovement]

The open foyer is not (except above the stairs), I'd assume its not in other areas too.

Incorrect. Of course an open foyer is GLA on the main level, or am I missing the question?

 

[NC Appraising]

It is functionally obsolete. Glorified storage or ADU for Munchkins. Still below grade. Still not GLA

But...you are still going to call it "finished" in the basement section of the grid correct?

What if it was 6', or 6.5'? I realize 5' was extreme.

7' is the magic number.

I hope your E&O is up to date.

 

[shrubberyvaluation]

But...you are still going to call it "finished" in the basement section of the grid correct?

What if it was 6', or 6.5'? I realize 5' was extreme.

7' is the magic number.

I hope your E&O is up to date.

The 7' is just for GLA.

 

[Overimprovement]

But...you are still going to call it "finished" in the basement section of the grid correct?

What if it was 6', or 6.5'? I realize 5' was extreme.

7' is the magic number.

I hope your E&O is up to date.

What does it matter??? The appraiser decides upon the adjustment either way. It can be the exact same adjustment (or none) if on the finished, or unfinished line. Just seems like we are grasping at straws here...

Where in the ANSI guidelines, OR in UAD guidelines is the ceiling height for basement defined to be either finished or unfinished?

These kind of discussions are Fannie's fault, for not being clear in the past, and leaving it up to appraiser discretion, BUT NOW mandating ANSI which is contradictory in some instances and still quite vague in others. If we, professional experienced appraisers, are having these discussions, what will the HS graduate reviewers be doing to us? Not just this thread, but all the ones dealing with measuring, GLA, etc.

 

[NC Appraising]

To the OP:

Lets look at the facts:

1. Fannie Mae is requiring appraisers to follow the Square Footage-Method for Calculating: ANSI® Z765-2021 standard.

2. Q19. How should appraisers value finished areas that the ANSI standard does not include in GLA, such as where the ceiling height is less than 7 feet? The Selling Guide offers some guidance on this topic. When the subject property has an area that does not meet the ANSI minimum ceiling height requirements, the additional square footage must be reported on a separate line in the adjustment grid and a market adjustment applied, if warranted. Similarly, we require the appraisal report to account for all other square footage that is not included in the GLA

3. Q14. The ANSI standard requires any area that is partially or wholly below grade to be counted as basement; what defines ‘partially’ below grade? A floor level is partially or wholly below grade if any portion of its walls is not entirely at or above ground level

4. The appraiser must report:  Total square footage of the property improvements below grade – If there is no basement, enter the numeral zero (0). No other information may be entered.  Finished square footage of the property improvements below grade, if applicable. Do not indicate a percent finished

Again, ANSI has two different terminology: finished and unfinished. The ceiling height is part of the finished and unfinished definition. ANSI does not differentiate!!!

Why is there two separate lines in the UAD for the basement and below grade living area?

Area sqft
Finished sqft

What I'm I missing here? Put the 6.8' area on the AREA SQFT section......Not rocket science!!!

 

[Dublin ohio]

What does it matter??? The appraiser decides upon the adjustment either way. It can be the exact same adjustment (or none) if on the finished, or unfinished line. Just seems like we are grasping at straws here...

Where in the ANSI guidelines, OR in UAD guidelines is the ceiling height for basement defined to be either finished or unfinished?

These kind of discussions are Fannie's fault, for not being clear in the past, and leaving it up to appraiser discretion, BUT NOW mandating ANSI which is contradictory in some instances and still quite vague in others. If we, professional experienced appraisers, are having these discussions, what will the HS graduate reviewers be doing to us? Not just this thread, but all the ones dealing with measuring, GLA, etc.

These threads about ANSI will become just like the 1004mc threads. Until someone publishes a "Dick and Jane" version of ANSI with illustrations. Some appraisers will never understand it.