How Many Double Check Sketch Before Leaving Property

[Joe Flacco]

You can't measure your subject with ANSI when your compables structure size is not ANSI.

 

[NC Appraising]

exterior face of the exterior wall studs.

I tell homeowners that the home "grows" after being built. It is also another way to juice the appraised value to meet the contract price.

Lenders know this. They use to order the appraisal at the front-end and now they wait to the very last minute....They know if they wait, the market can catch up to the contract price in markets that are increasing (or if the home is over priced). Also, appraisers can now use the larger GLA from the finished home and make upward adjustments.

For slabs, the CAD goes to the slab. The appraiser should measure to the exterior wall, which accounts for 50-75 sqft increase in sqft. Now if the appraiser uses the vertical trim piece, the sqft increases even more.

 

[NC Appraising]

Joe,

Does all of the real estate agents in your market area use the tax card GLA to fill out the MLS? Or is it 50/50, etc.?

Do they ever measure the home or hire someone? Where do they get there GLA from?

Man, you guys trust the government too much.

 

[Joe Flacco]

It is not typical for agents to measure a house around here. We use tax records. Tax records is pretty good. And if it is off then we can estimate where it is off.

The whole point of measuring your house is to compare it with size of comps. Why would you use ANSI and subtract open space if the comps size are not calculated that way? A client can't tell you how to calculate.the subject.size. you would be under reporting the size of the subject anytime there is a two level family room versus the comps.

 

[NC Appraising]

I can see why they would trust a third party to measure and draw the improvements. Appraisers are all over the place. I have seen plenty of appraisals that represent the improvements by rectangular boxes that calculate to the assessor's GLA.

DO NOT SAY THAT!!! I got my first third inspection/measure last week. Check out his sketch and the photo!! The rear portion is the fireplace...should not have included it. I called the agent and the lender up and said this profession is screwed.




The "third party" measurement:

 

[Joe Flacco]

OMG! included 12 SF for fireplace for a 2,800 SF house! Idiot! We are screwed!

 

[Joe Flacco]

View attachment 35877

Floor plans:These are views looking straight down at the floor, showing precisely dimensioned rooms, closets, kitchens and baths, and the locations of doors, windows, stairs, and other interior elements (at left).

That's not real plans though. That is a floor plan for marketing.

 

[Randolph Kinney]

That's not real plans though. That is a floor plan for marketing.

Right you are, but where did they get the dimensions? Marketing something that is not real is illegal. My guess is they got those dimensions from the architects's floor plan. And that should be what the builder submits to the county. In California, the county uses that as the official GLA.

I have appraised homes that were built 2 years ago type time frame to discover the county record is wrong. The floor plan and GLA did not match what was on the lot. And that's why appraisers measure the improvements to know what's really there, what was added on, or a mistake was made initially recoding with the county.

 

[Randolph Kinney]

OMG! included 12 SF for fireplace for a 2,800 SF house! Idiot! We are screwed!

Yeah, GLA is specific, isn't it? 12 SF error is not gross enough to be sued over, but it should be a warning the appraiser is not competent or is error prone.

did you notice there was a bigger difference in the total GLA that 12 SF?

 

[Joe Flacco]

Right you are, but where did they get the dimensions? Marketing something that is not real is illegal. My guess is they got those dimensions from the architects's floor plan. And that should be what the builder submits to the county. In California, the county uses that as the official GLA.

I have appraised homes that were built 2 years ago type time frame to discover the county record is wrong. The floor plan and GLA did not match what was on the lot. And that's why appraisers measure the improvements to know what's really there, what was added on, or a mistake was made initially recoding with the county.

I'm not saying assessors structure size is never wrong. I am saying that if a appraiser is calculating structure size using ANSI then they should be sure that the comparable property structure size is calculated using ANSI. I am saying if the comparable property structure size is not ANSI and the appraiser is using ANSI, then it is the appraiser that is wrong and not the assessor.