Standardized Property Measuring Guidelines

[Tim Hicks (Texas)]

The ANSI standard does not change your valuation methods. My values are rounded just like most appraisers. Although, I do see some appraisals with a value of $235,496 or some such which is ridiculous.

 

[Sadie]

The carve-out is for when a home can't be measured to ANSI (berm home), not for when it can but the result makes the comparison more confusing.

It might be also when the results of strictly following ANSI would result in a mis leading report. But IDK, I didn't write the guideline.

 

[Tim Hicks (Texas)]

View attachment 58233

Coming soon to all appraisals this Spring!

 

[Mejappz]

Coming soon to all appraisals this Spring!

Get your ready for this latest debacle.

 

[Elliott]

I hate to be a butt, but what if I include a statement that I'm using ANSI standards and round linear measurements to the nearest two inches which results in the living area of the subject to be consistent with other measuring standards typically used by county records and realtors, which is also consistent with local building practices that construct foundations in whole feet and half feet. The purpose being to provide the most consistent standard.

 

[ramrcdk]

GLA on one line and "additional area" on another. If the market is treating the additional building area the same as GLA then you'd have no problems using the same adjustment factors for both.

Ding Ding ...a winner!
As I said will most likely be no difference in the total " + - " adjustment(s); however, can be the reason for exceeding: Net, Line, Gross, NAT- net adjusted totals which tends to be a "lender's concern requiring comments" typically found in the SOW.

In using the GXX001 explanation: best efforts of the appraiser during the normal course of appraisal business and similar to peer application, the GLA comparison source of sale use is ________ and is currently found to be the market accepted GLA based on typical market reactions for the opine of market value found in the defined use of the Fannie Mae Form and from the geographical area. The appraiser has not physically measured the grid sales and to extract unknown GLA from the total provided may be misconstrued as misleading assignment results.
As of the report date, use of ANSI _Z765-2021_ measuring guidelines have not been adopted or mandated for use by ________ & _________.

Tweaking these "thoughts" over the coming months.

 

[CGinMN]

GLA on one line and "additional area" on another. If the market is treating the additional building area the same as GLA then you'd have no problems using the same adjustment factors for both.

What if the market is treating two areas differently that are supposed to be lumped on the same line? Such as an above-grade basement that meets ANSIs requirement for GLA, but which the market views as a basement?

For appraisers to provide clear, consistent, and reproducible measurement results that are not misleading to users, Fannie Mae needs to give clear, consistent, and reproducible instructions as to when the use of the exception code is acceptable. Also, ANSI can’t change every couple of years.

 

[Carnivore]

What if the market is treating two areas differently that are supposed to be lumped on the same line? Such as an above-grade basement that meets ANSIs requirement for GLA, but which the market views as a basement?

For appraisers to provide clear, consistent, and reproducible measurement results that are not misleading to users, Fannie Mae needs to give clear, consistent, and reproducible instructions as to when the use of the exception code is acceptable. Also, ANSI can’t change every couple of years.

How do you have a above grade basement? Maybe your meaning some of the basement floor area is above grade!

 

[CGinMN]

I have provided this example a few times now. The market views this as a raised ranch or split, not a 2 story on slab with tuckunder. The top-level is the main level, the bottom level is the basement.

 

[residentialguy]

How do you have a above grade basement? Maybe your meaning some of the basement floor area is above grade!

It can happen. Had it happen on splits many times. Same with the reverse. House built into a hill.. per ansi, it has no GLA. ANSI is a Guideline... but even they realize there are exceptions and they allow for exceptions.