Brick wainscot

[hambone]

You have peers who were trained by "big measurers." They use the very
most outside dimensions (not the foundation) and they have measurements
like 40' 3-1/2". Its a minor form of fraud. Its a cheap, easy way to get
and extra 25 or 50 SF out of house that isn't there. MBs of course like
'big measurers' cause they get that extra $1000 or $2000 when comparing
almost identical houses in subdivision. I ran into this in a new subdivision.
I let lenders and realtors know what was going on, and my reward was that
only the 'big measurer' is doing reports in the subdivision now. The main
realtor won't even talk or respond to my emails about concessions on sales.

This has been my conclusion also. Thanks

 

[Mr Rex]

Agreed, but I work for my client's. This is a big deal to them.

I appreciate your opinion on the matter. Maybe you should repeat your name to yourself.

Well just do as you are told. Use the wainscot on the subject and ignore it on the comps. BTW, if you use the extra GLA on your subject and make sf adjustments to the single sf and also make a quality adjustment for partial brick, you can really make your clients happy, and all their dreams will come true.:new_all_coholic:

If you ask a question, don't get mad at the answers that make perfect sense, even when repeated to yourself or others.

 

[Riick]

Is there floor area under that 24" deep wainscote (( never even heard of such a thing))
?? Would you include the area of a bow window ??
If no floor area, then per FHA, it's not part of the GLA.
.

 

[Mr Rex]

Whats the difference between full brick veneer and brick wainscot except possibly where you place the tape? Does a ICF home offer more GLA than a 2 x 4 stud home with cement fiber siding? Does a Vinyl siding home offer more GLA than a cement fiber home, since vinyl occupies more space? ANSI says measure to the outside. Appraisal theory says derive the adjustments from the market.:new_smile-l:

 

[hambone]

Well just do as you are told. Use the wainscot on the subject and ignore it on the comps. BTW, if you use the extra GLA on your subject and make sf adjustments to the single sf and also make a quality adjustment for partial brick, you can really make your clients happy, and all their dreams will come true.:new_all_coholic:

If you ask a question, don't get mad at the answers that make perfect sense, even when repeated to yourself or others.

Mr Rex, my favorite.

I asked a simple question since there is no universal standard, only recommendations. A forum member, decides to determine what's important to my client's, their customers, and an appraiser just wanting to do the right thing. I know what's right. I do not need you comments assuming I'm unethical in that I always do what my client's want.


The fact of the matter is that I'm furious that I have to defend myself from other local appraisers who really do what ever their client's want.

Asking the question here, calling my state board, and calling other local peers has now given me supporting data to include in an addendum and help educate my client's.

P.S. After speaking with my state board, they replied that it is not wrong to measure from the vinyl or the brick wainscoting. I think it shows a lacking of common sense by an appraiser who uses this technique. FYI

 

[hambone]

Sorry, I think I did not clearly describe the wainscoting properly. It's only 24" high, not wide. It's only 0.3 wider than the brick. Petty, I know.

 

[Mr Rex]

Does Arkansas recognize or recommend a measurement standard? I reference ANSI, since it is one of the few nationally accepted standards, although it is not required nationally. My point was and is, that it really doesn't make a tinkers dam, if you research the market and the adjustments for similar improvements. I don't adjust for GLA under 50sf on any house, and 100sf on larger homes, since there is not market evidence of a reaction in my market. As far as brick wainscot, can you determine if the difference in value of the comparables (if there is any) is due to GLA due to measuring or quality of exterior materials? Do you personally measure all of your comps, if not how to you justify minor GLA adjustments?

 

[The Argus]

"Statements of Assumptions and Limiting Conditions:

2. The appraiser has provided a sketch in this appriasal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualising the property and understanding the appraiser's determination of it's size."

I was taught to measure the footprint of the improvement.

 

[hambone]

Does Arkansas recognize or recommend a measurement standard? I reference ANSI, since it is one of the few nationally accepted standards, although it is not required nationally. My point was and is, that it really doesn't make a tinkers dam, if you research the market and the adjustments for similar improvements. I don't adjust for GLA under 50sf on any house, and 100sf on larger homes, since there is not market evidence of a reaction in my market. As far as brick wainscot, can you determine if the difference in value of the comparables (if there is any) is due to GLA due to measuring or quality of exterior materials? Do you personally measure all of your comps, if not how to you justify minor GLA adjustments?

Actually, yes, our state board recently announced that it is strongly recommended that we follow ANSI standards. In some cases where ANSI is clearly not the best technique, explain.


I completely agree. Our market does not reflect differences for such minor SF differences.


Again, I know this is petty, but since there is no standard, it allows for inconsistencies. I feel that measuring a house is just about the easiest part of my job. I've remeasured multiple house and gotten almost exactly the same number.

This problem began when all of the Realtors learned how to multiply the square footage by a price per foot. Aggghh. This is all I hear about, so when I'm 51SF less than they want, they pull out their trusty desk calculator and inform me that I measure the house 51SF larger, the price would then me $5,100 higher.

It's been a long day.

Happy Holidays.

 

[Mr Rex]

Just make them prove the $100 per sf adjustment. Problem solved.

I find that most RE agents are smarter than the average bear, but bears aren't that smart. As my old math teacher used to say, show your work, and they can't, you can.