NAR response on ANSI

[djd09]

you should of heard the realtor i meet yesterday. to say the least very unhappy. she was going back to the office for a chat with the manager. bye bye ansi

 

[ramrcdk]

So it is true Fannie IS considering omitting their demand of
ANSI use ?? Just heard /read that.

If SO can they also DO away with OUR liability whereby the Anyone's Attachments & Part A
is doing "appraisal" inspections?

 

[djd09]

Appraisal Changes Coming for Fannie Mae Loans​

Michelle Czekalski Bradley, a Pennsylvania certified general appraiser and USPAP instructor, said, “This has the potential to cause some difficulty, for Pennsylvania in particular, because we have a rather old housing stock. This won’t be an issue where new homes are the predominant market, but areas like Pittsburgh, Harrisburg and Philadelphia, for example, have older homes that are going to have potential issues.”


Bradley explained, “A home where the second-floor ceiling is not more than 7 feet in height is not to be included in the room count and above-grade GLA totals. Many 100+ year old homes have this issue. For example, consider a typical post-WWII cape COD which has one bedroom on the first level and two bedrooms on the second level. Often the second floor has low and sloped ceilings that is typical of this style of home, yet that second floor may not meet ANSI standards for inclusion in above grade square footage totals, even though homebuyers perceive value to this second-floor level. Conformance with ANSI standards will require that the appraisal being reported with the size of the first-floor area, and the home will be reported as having one bedroom. This is obviously going to cause some concern to sellers and buyers alike. It is important to note that the second floor can be included separately, much like the basement is reported separately in an appraisal. Yet when a homebuyer receives the appraisal report, which states the home has one bedroom above grade, there will naturally be confusion.”

Appraisal Changes Coming for Fannie Mae Loans - Pennsylvania Association of Realtors®

Appraisers will be required to use ANSI Measuring Standards for interior and exterior inspections required for loans sold to Fannie Mae.

www.parealtors.org

 

[djd09]

Appraisal Changes Coming for Fannie Mae Loans​

Michelle Czekalski Bradley,

Michelle Czekalski Bradley​

Michelle Czekalski Bradley is the granddaughter of Betty Czekalski, our company’s founder, and serves as Chief Appraiser. She joined Czekalski Real Estate, Inc. after graduating from college, however she has been a part of the company for as long as she can remember, working alongside her parents, Janet and Wally Czekalski, for decades.

Michelle is an AQB Certified USPAP Instructor, and a real estate educator on a variety of real estate topics. She has authored continuing education courses which she has instructed for both appraisal and real estate licensees in many states. She also completes review appraisal assignments for a variety of clients.

She has recently been appointed as Chair of the Appraisal Standards Board (ASB) by the Board of Trustees of the Appraisal Foundation. This national-based board is responsible for developing and amending the Uniform Standards of Professional Appraisal Practice (USPAP), the generally accepted standards of the appraisal profession.

She has served as Pennsylvania's representative to the National Association of REALTORS® (NAR) Real Property Valuation Committee, and the Federal Financing and Housing Policy Committee, and actively lobbies for needed changes to the real estate profession. NAR has appointed Michelle as their representative to The Appraisal Foundation Advisory Council (TAFAC) where she was appointed to chair the Appraisal Standards Board Issues Committee in her first year.

She has been named REALTOR® of the Year twice by the Greater Allegheny Kiski Area Board of REALTORS®, in 1999 and 2019, and she is also a member of the Butler Area Association of REALTORS®.

An active member of the region's civic and philanthropic communities, she has served as President, Secretary/Treasurer and State Director of the Greater Allegheny Kiski Area Board of REALTORS®, where she has also served on the Board of Directors multiple times. She has been elected to the Allegheny Valley Chamber of Commerce Board of Directors and has also served as President of the Chamber and on the Executive Committee. She is also a past President of the Allegheny Valley Business and Professional Women's Club.

Michelle Czekalski Bradley | Czekalski Real Estate, Inc.

Our full-time, state-certified appraisers provide residential, farm, new construction, relocation appraisals and more in Allegheny, Butler, Armstrong and Westmoreland counties.

www.crehomes.com