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GLA or NOT

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I guess just like a lot of items in the appraisal world, we agree to disagree on this one. If in court I can show drawings of the main floor with the stairwell and the second floor with the opening for the stair well. If challenged, I'll ask the attorney to go to the house and stand on the floor where the stairwell is and place a chair on that floor and change the light bulb above the chair. He won't be able to do it and I will have proven my point. The stairwell is not part of 2nd floor GLA in my appraisal practice.
 
RSW, I looked in allregs for refrence to ANSI for Fannie Mae and can not find it, do you know the location? I would like to have that if it is written.
 
I just have their manual from where I took an ANSI CE class several years ago. Sorry!
 
Thanks Rufus,
I have a copy of the ANSI measurement standards. RSW stated that Fannie Mae wants us to follow ANSI. I was looking for documentation as where that is stated.
 
stefan olafson said:
I guess just like a lot of items in the appraisal world, we agree to disagree on this one. If in court I can show drawings of the main floor with the stairwell and the second floor with the opening for the stair well. If challenged, I'll ask the attorney to go to the house and stand on the floor where the stairwell is and place a chair on that floor and change the light bulb above the chair. He won't be able to do it and I will have proven my point. The stairwell is not part of 2nd floor GLA in my appraisal practice.
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Can't put a chair in most closets and even if you could it's full of cloths and stuff or a cubby underneath some stairs.

I don't think anyone is going bring you to court because you did/didn't count stairs. Frankly, I think it's personal judgment whether one wants to count stairs or not.

Most two stories are easy to measure from the exterior using observation. If the second floor is difficult I rarely measure the interior instead using public records if what is reported on public records for the first floor is close to what I measured. However, I comment to inform the client. Interior measurements take a while and in some cases because of furniture/obstacles your measurements are that accurate. So far I have not had a client come back on me for doing so.
 
As far as what appraisers do, it is what the comps are reported as in their local market. FNMA states to use ANSI true, but this is only a guideline and if you figure the subject the same way as the comps are figured by the local assessors or realtors you will be comparing apples to apples which is what matters.
As for the addition, if it's included in GLA then you need a CTC adjustment, if you do not include it in GLA there should be a +lump sum adj for the added value so far of the addition. 6 of 1 half dozen of the other - these should yield the same value and its ultimatley up to the appraiser which way yields better comps.

Consider also the subdivision with all similar style, age, GLA homes, subj has an addition. It would make more sense to add the addition as a lump sum and still compare the original house to the similar comps. Looking for comps larger due to the added GLA might give you different quality houses which are not truly comparable. FNMA also has a 500 sf/25% GLA guideline, so do you break the ANSI GLA calculation guideline or do you break the comps GLA size variation guideline?

This is also why those lousy AVM's don't work...no human interpetation or common sense! It is ultimatley the appraiser's opinion of value. Yes we try to stick to as many guidelines as possible and explain the ones we break. USPAP says nothing aout these types of specific details.
 
Ok second reference to FNMA requiring ANSI, where can this be verified by a FNMA document? I need to know this and can not find it.
 
Ms. Crowley, wouldn't that be the market reaction to the cost to cure be applied instead of simply as cost adjustment? Cost and market reaction are very often different.

As a consumer and potential buyer I would surely apply the potential PIA factor of having to have items completed above simply the cost when negotiating a potential sale as noted by the poster.

Heres an ANSI link that can be accessed on google, I realize it is not the most current: ANSI Z765-2003
 
David Dietz said:
Ok second reference to FNMA requiring ANSI, where can this be verified by a FNMA document? I need to know this and can not find it.
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I've never heard of FNMA requiring ANSI. The last ANSI CE class I took in CA taught some designations or member affiliations might require it, but not FNMA. My Certified designation in CA does not require it.
 
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