Standardized Property Measuring Guidelines

[Fernando]

My tax assessors are not way off. And it is one reason the continued widgetization of Real Estate will continue to fail. On the bright, these four months will give me more time to expand my non-lender and litigation work.

The four months will allow Fernando to do his way adjusting subject's gross area to better reflect and adjust with the comps.
After that, it's reverse. Comps' gross area need to be adjusted to reflect subject's gross area.

 

[Terrel L. Shields]

Get ready to see ANSI Measurements as a required course for re-certification, though...

Unless it is mandated for ALL appraisers, I doubt it gets past the state boards beyond that although measuring might become an EZ CE...

I'd hate to think I need to apply ANSI to a barn or poultry house considering they are 400'-600' long and 40'-66' wide...duh. All the company calculations relate to that metric, not 55.2' x 500.7' and would be a pointless waste of time.

And since assessors don't apply ANSI, and most Realtors use "Courthouse" as a SF source....well, again. What is the point? False accuracy? Is that a goal? Errors still remain. I just appraised a place where I also had another appraiser's sketch to look at. His SF? 3590. Mine? 3,615. The assessor? 3,904. I am not sure how they made that error but in a house, in this case, that had 25 different corners....??? It only takes a foot here, a foot there to err. And the difference in mine and the other appraiser (whom I knew and actually took classes under) was the difference in him using half foot and me rounding to a full foot. In any case it was inconsequential.

And are you really using ANSI or ASM?

ANSI vs. AMS, Two Measurement Standards - AppraisersBlogs

Many agents (and appraisers) claim to be using the ANSI ® measurement standard, when in fact they are using the American Measurement Standard®.

appraisersblogs.com

 

[Zoe]

Maybe Fannie will disclose to appraiser if comp was measured by appraiser using ANSI.


Wouldn't doubt it. I think about Corelogic and the data they provide already in Total.

 

[Zoe]

Some RE agents don't reference anything locally. They just pull something out of air. If it's an appraisal on existing construction, they are suppose to report name of appraiser in MLS and the appraiser's GLA in the MLS. That don't always occur, but it is getting better all the time. We have an app tied to MLS that reports appraiser data that is reported to MLS, tax assessor data and what the agent has reported in the MLS.

When you look at data Corelogic is reporting and how big a player they are, get ready.

As an appraiser, you will either have to certify to doing it using ANSI or Fannie won't buy the loan.

Many states already require ANSI for appraisers.

 

[Charles West]

Why they would make a statement about adjusting comparables is beyond me. The square footage in county records is what you have to use and using ANSI shouldn't make a dime of difference. If you change a comparable's living area you better have some good supporting data like 'Oh, I measured that home just last year and yes the county is wrong'. Anything short of that jeopardizes your license.

 

[Zoe]

The MLS provides the app I referred to that provides all three sources. It's not my app. I have heard more than one local underwriter say they trust appraiser data most, Real estate agent next most, and tax assessor least on GLA.

So this will help when Fannie puts foot down. If Fannie says you have to certify to using ANSI, you will lose much business if you don't certify to it. Fannie will not buy the loan.

 

[Mejappz]

Why they would make a statement about adjusting comparables is beyond me. The square footage in county records is what you have to use and using ANSI shouldn't make a dime of difference. If you change a comparable's living area you better have some good supporting data like 'Oh, I measured that home just last year and yes the county is wrong'. Anything short of that jeopardizes your license.

Get ready for even more disclaimers in reports.

 

[Mejappz]

I doubt it gets past the state boards beyond that although measuring might become an EZ CE...

I would not be surprised if the brain-dead and corrupt State-Bords are in on it. I think Florida passed some useless measuring houses course last year; I wonder if this has anything to do with it?

 

[Fernando]

In my MLS, square footage is based on Realist which usually corresponds to tax assessors. Smart agents always put a disclaimer that buyers need to do own measurement.
With higher standardization in measurement, appraisers are held to higher standard and can be more liable if buyer rely on our gross area.

Sometimes, agents put down a higher GLA based on prior appraiser's measurement.
Even I don't know if the higher GLA measured by an appraiser is correct and I refer back to tax assessors.

 

[Terrel L. Shields]

This is good. Our tax assessors are so far off on GLA sometimes that it is not even funny. This will slowly make things better. I disclose I use ANSI in my measurements.

Are you sure? Do you measure to the 10th then round to the square foot? How will it make things better slowly or not? If the assessors measure with a wheel (they still are here) or (as they are doing here for small buildings, barns, etc.) using aerial imagery....what is improved?

Further, if you have a house dead to nuts "right", then the average house is NOT square to the tenth of a foot. 2 tenths maybe but I've seen few houses that were 100% square. Few homes are truly square and pole barns? Forgeddaboutit. Further, rock, brick wainscot, corners...what are you measuring? The vinyl corner on a simple vinyl siding house creates an additional tenth of a foot or more to a measurement, The thickness of the siding and sheathing adds to the GLA but does absolutely nothing to adding to the interior usable space. It cannot even differentiate between a wall thickness of a 2" x 4" (which isn't 2" x 4") and a 2" x 8" wall or 2" x 6" wall. Usable interior space is meaningless and ANSI does nothing to change that. ASM is better but suffers some of the same problems...