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Land Area Reporting Conventions

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Joined
Nov 2, 2006
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Des anyone know why Fannie and the banks require land to be reported as the decimal fraction of an acre when above 1 acre and square feet when below? I seems much easier to intuitively grasp the difference between a 0.2 acre lot and a 0.7 acre lot than it would be between one at 8712 sf and one at 30492 sf.
Decimals always seemed to me to be the clearest way to express lots of any size, especially when comparing lots above to those below 1 acre. But, given that it seems to be a requirement of every client since the dawn of time, I have to think that there is some reason for it(or at least once was).
 
Joined
Nov 2, 2006
Professional Status
Certified Residential Appraiser
State
Pennsylvania

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
Contact one of the moderators and see if they can merge the threads
 
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