Fannie messed up with ANSI

[Fernando]

I was thinking of my rental building which backs to a hill.
Before, we measure the building according to what appraiser feels is appropriate.

Now, there are three possibilities:
1) Measure same as before regardless of above or below grade.
2) Separate the grade areas in the report.
3) Use the GXXXX exception thing (Fannie can't even use an intuitive abbreviation) and include all grades.

Because it's unclear whether one level is below grade and also reviewers can't tell, appraisers can approach differently in how to deal with the situation.
Either possibilities are acceptable except Possibility #2 which requires more work and many appraisers will not separate the grade (except the Follow the Rules appraiser will spend much more time on appraisal).

Based on the "our peers standard", it will be acceptable to call out both levels in calculating total gross area.

You can see Fannie has made things more complicated for appraisers. Fix it.
Fannie doesn't think of future detrimental consequences in forcing us to use the ANSI standard.

 

[sputnam]

I was thinking of my rental building which backs to a hill.
Before, we measure the building according to what appraiser feels is appropriate.

Now, there are three possibilities:
1) Measure same as before regardless of above or below grade.
2) Separate the grade areas in the report.
3) Use the GXXXX exception thing (Fannie can't even use an intuitive abbreviation) and include all grades.

Because it's unclear whether one level is below grade and also reviewers can't tell, appraisers can approach differently in how to deal with the situation.
Either possibilities are acceptable except Possibility #2 which requires more work and many appraisers will not separate the grade (except the Follow the Rules appraiser will spend much more time on appraisal).

Based on the "our peers standard", it will be acceptable to call out both levels in calculating total gross area.

You can see Fannie has made things more complicated for appraisers. Fix it.
Fannie doesn't think of future detrimental consequences in forcing us to use the ANSI standard.

ANSI Z765-2021 does not apply to your rental building. It only applies to SINGLE FAMILY RESIDENCES. Come on, Fernando. Get the standard and take 15 minutes to actually read it before you start posting about it.

 

[Fernando]

ANSI Z765-2021 does not apply to your rental building. It only applies to SINGLE FAMILY RESIDENCES. Come on, Fernando. Get the standard and take 15 minutes to actually read it before you start posting about it.

I was thinking about my own rental building backing against a hill.
It applies to SFR backing against a hill.
So you should take 15 minutes or longer to reflect how you take things personally rather look into the issue.
Your plan is evade the issue and attack the messenger. You must follow the Trump's bullying strategy.

 

[sputnam]

Fernando... you said "rental building". You did not say 'detached SFR'. What I follow is responding to what is typed, not what you meant. I don't know what you mean. I have a very strict policy against reading minds. As for your house... for at least 37 years... the rule has been, and still is, if the floor of the lower level is below the level of the ground outside... anywhere on that level... then the entire level of the dwelling is basement. GLA is always heated, finished, and above the ground.

Again, read the standard. If you had, you wouldn't have asked the question about your 'rental building'.

 

[Fernando]

Fernando... you said "rental building". You did not say 'detached SFR'. What I follow is responding to what is typed, not what you meant. I don't know what you mean. I have a very strict policy against reading minds. As for your house... for at least 37 years... the rule has been, and still is, if the floor of the lower level is below the level of the ground outside... anywhere on that level... then the entire level of the dwelling is basement. GLA is always heated, finished, and above the ground.

Again, read the standard. If you had, you wouldn't have asked the question about your 'rental building'.

Too bad you can't read my mind. I said thinking about my rental against a hill which then reminded me of shortcomings of ANSI.
It's a structure backing against a hill which got me thinking of my one level which has some dirt thus below grade.
Since mine is one level and if SFR, I can use that GX00XXXXXXxxxxxxxxx exception copout.
If the building was 2 levels, it be more complicated to describe.
ANSI was like that for 37 years and I didn't have to worry about above or below grade or calling basement. They're just nomenclatures.
What is important is how the market perceives the gross area and I make the measurements suitable to compare with comps available in the appraisal.
Why forcing us to use ANSI when it's not as appropriate to use for some homes?

 

[sputnam]

They have adopted ANSI for two reasons. They want more consistency in the way that appraisers describe the size of dwellings... and, they are adding to their database. The nonsense about it being making appraisals more accurate is just that.... nonsense. Going forward, appraisers will see inquires that question the GLA based on what a previous appraiser reported.

 

[Fernando]

They have adopted ANSI for two reasons. They want more consistency in the way that appraisers describe the size of dwellings... and, they are adding to their database. The nonsense about it being making appraisals more accurate is just that.... nonsense. Going forward, appraisers will see inquires that question the GLA based on what a previous appraiser reported.

Fannie should concentrate on appraisers measuring correctly.
I'd seen other appraiser's sketch and measurements sometimes off by 1 foot or a corner of house is wrong.
Doesn't matter with ANSI when some appraisers can't even measure. Those appraisers still can't measure.
I have a fellow commercial appraiser who walks out the measurement and measure using google map.
AMCs/Lenders/Clients need to do better job in screening out appraisers who don't know how to measure.

 

[Zoe]

Fannie should concentrate on appraisers measuring correctly.
I'd seen other appraiser's sketch and measurements sometimes off by 1 foot or a corner of house is wrong.
Doesn't matter with ANSI when some appraisers can't even measure. Those appraisers still can't measure.
I have a fellow commercial appraiser who walks out the measurement and measure using google map.
AMCs/Lenders/Clients need to do better job in screening out appraisers who don't know how to measure.

You have a good point. That puts liability back on GSE and everybody down the chain. Think of how much GSE database shows discrepancies on a single property by address. That puts liability on them as well as everybody in the chain.