I keep getting push back on this stipulation from a reviewer

[Deleted member 122665]

Per reviewer - The Gross Living Area Adjustment(s) $39.92/SF vary significantly from the average price per square foot of the provided sales ($323/SF)

Not sure how to answer this? GLA adjustment is $40 per S.F. How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

 

[CGinMN]

GLA adjustments account for marginal differences in gross living area, whereas the average price per square foot in the sales comparison approach is not a measure of marginal differences and includes the value of the site, and all other components in addition to GLA, such as condition, quality, bathrooms, bedrooms, basement, garage, amenities, etc.

 

[Bob Ipock]

Per reviewer - The Gross Living Area Adjustment(s) $39.92/SF vary significantly from the average price per square foot of the provided sales ($323/SF)

Not sure how to answer this? GLA adjustment is $40 per S.F. How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

Per reviewer - The Gross Living Area Adjustment(s) $39.92/SF vary significantly from the average price per square foot of the provided sales ($323/SF)

Not sure how to answer this? GLA adjustment is $40 per S.F. How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

 

[DWiley]

What do you use to support your GLA adjustment?

The germane question is, what did YOU use to support the $40/SF? How someone else supported his/her adjustment is not really relevant.

If I had such a request, I would respond by supplying the data and analysis supporting the adjustment rate that I had applied.

 

[Bob Ipock]

Per reviewer - The Gross Living Area Adjustment(s) $39.92/SF vary significantly from the average price per square foot of the provided sales ($323/SF)

Not sure how to answer this? GLA adjustment is $40 per S.F. How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

Houses do not sell by the square foot and cars do not sell by the pound.

Houses sell by features size, site size etc.

If a house sells for $400,000 and is 2,000 s/f that is $200.00 per foot. From that you must adjust down for the garage, pool, fence, deck, f/p, site value etc. You may wind up with $100.00 per foot for the actual house itself.

 

[Carnivore]

What do mean by "per the Reviewer"? What i am trying to ask depends on who you got this assignment from? AMC . If so is the reviewer a. AMC Checker Dude or is this an actual Lender Underwriter. Experienced Lender UW's don't rely on price per sft . They know and understand what CGinMN said above,

 

[J Grant]

Per reviewer - The Gross Living Area Adjustment(s) $39.92/SF vary significantly from the average price per square foot of the provided sales ($323/SF)

Not sure how to answer this? GLA adjustment is $40 per S.F. How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

It sounds like you extracted by sensitivity analysis as a line item, the differential of sf as the contributory value, rather than $ per sf- so cite it or whatever method you used, and then state that the narrowing of the value range of the comps when the adjustment was applied support it's contrtuboriuy value extracted from the price

 

[J Grant]

Per reviewer - The Gross Living Area Adjustment(s) $39.92/SF vary significantly from the average price per square foot of the provided sales ($323/SF)

Not sure how to answer this? GLA adjustment is $40 per S.F. How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

How did they get a price per sf of the provided sales - did they divide the sale price by sf ? That is not a typical appraisal method.

If they meant some other appraisal CU feedback, that is a comparison the computer brings up.

 

[DWiley]

How was my GLA adjustment supported? Everything is bracketed and its pretty clean report, but they won't let this go. Any suggestions or help is appreciated. What do you use to support your GLA adjustment?

You pose a question that no one on this forum can answer, because no one here knows how you got $40. The reason they won't "let it go" is because the GSEs identify the use of an unsupported adjustment as unacceptable practice. So, they want to make sure the $40 is supported.

 

[Mejappz]

The germane question is, what did YOU use to support the $40/SF? How someone else supported his/her adjustment is not really relevant.

If I had such a request, I would respond by supplying the data and analysis supporting the adjustment rate that I had applied.

When are the GSEs going to start to crack down on unsupported adjustments? I have yet to see an appraiser in my area support any of their adjustments or make a single market condition adjustments in the past four years even though some of my markets have increased between 20-30% during that time.