Standardized Property Measuring Guidelines

[KenAZ]

Just because we use ANZI as the standard, does not relieve us of ALSO reporting and adjusting for how the market participants view the property, and if there is extra sq footage that is not usable living area but the market is paying for it, then we adjust for it and explain why

And how does that make anything better?

 

[KenAZ]

If all of ther closets have 6'10" ceilings, I need to subtract all of the closets from GLA

 

[Mejappz]

My main issue which will slow me down and take much of my time is measuring to 1/10th foot.
If on average, one wall measurement is 40 feet. A one tenth foot measurement difference is less than 0.3% difference.
It doesn't make statistically sense to be so accurate.

Its bureaucrats and some geeks at Fannie trying to justify their paycheck. If it brings down the entire housing market, so be it; they still get paid.

 

[sputnam]

My main issue which will slow me down and take much of my time is measuring to 1/10th foot.
If on average, one wall measurement is 40 feet. A one tenth foot measurement difference is less than 0.3% difference.
It doesn't make statistically sense to be so accurate.

Once you learn it and get used to it, it's not slower. And measuring to 1/10th of a foot, instead of in inches, lets you go straight to the calculations without any conversion. I reckon that appraisers just don't like any change and do like to whine about it when it comes along.

 

[Carnivore]

I found my actual hard copy of ANSI Z765-2003. I have not been using that because as I stated in an earlier post I have been following/aligning my measurements per the NC Real Estate Commissions published standard Measuring Guidelines. It is important to point out this is a Guidelineis encouraged but not required by the RE Commission. This method keeps me consistent with the reported MLS Sft(above &below grade).

https://www.ncrec.gov/Brochures/Measurement booklet 2013.pdf

The Introduction Page says this "When reporting square footage, real estate agents should carefully follow these Guidelines or any other standards that are comparable to them, including those approved by the American National Standards Institute, Inc. (ANSI) which are recognized by the North Carolina Real Estate Commission as comparable standards.* Agents should be prepared to identify, when requested, the standard used."

In our reports for the GSE's we will be soon required to measure and report sft areas per that Standard. PERIOD! In our GSE reports, it will be necessary to actually state that method of development. If you don't then the Checker Dudes/Dudettes will gleefully stip you. Like it or not we are stuck with this.

Big Tech fingerprints are all over this. Especially Corelogic. They own Realist.

Oh. all this will do is somewhat force Mr. Bragadocious and subsequently impede his report volume. annual volume Me! Nope! I am semi-retired. My annual volume is about what Mr Brag does in one month.

 

[Dublin ohio]

lets you go straight to the calculations without any conversion

My software does decimal or inches. So no advantage

 

[djd09]

"When the subject property has an area that does not meet the ANSI minimum ceiling height requirements, the additional square footage must be reported on an additional line in the adjustment grid and an appropriate market adjustment applied, if warranted. Additionally, the appraiser must provide and explanation in the report for how this area was handled in order to comply with the ANSI standard and also acknowledge any contribution of the additional square footage."

so, now, there is GLA, basement area, garage area, outbuilding area, deck,patio,porch area, and non qualified area.

and the appraiser Must make an adjustment and explain this non qualified area.

 

[Dublin ohio]

ANSI does not bother me whatsoever. My only question. Is how are they going to monitor and police this. What "standard" will they be using for comparison purposes

 

[Zoe]

ANSI does not bother me whatsoever. My only question. Is how are they going to monitor and police this. What "standard" will they be using for comparison purposes

God grant me the serenity to accept those things I cannot change, the courage to change those things I can, and the Wisdom to know the difference.

Who knows with corelogic rolling data like they are and GSE's, you may have the latest appraiser data at your fingertips on comps.

 

[Zoe]

The monitor part is easy. It will be in a certification that appraiser signs on GSE forms.