Standardized Property Measuring Guidelines

[Terrel L. Shields]

Does ANSI allow us to guess the basement size, or maybe even the GLA?

As Mark Twain noted the art of lying was dying but the practice remained, perhaps even increased. One skillfully must learn the art of our profession

 

[RCA]

It's wrong. Yes the sf adjustment may be the same but there is no comparison. Completely different buyers. A gas station may sell for the same $/sf as a similar sized ranch, but you don't use it as a comp. Comp means that it is similar... it's similarly comparable to the subject, attracting the same buyers.

The world is full of different buyers.
Interestingly, many think the same
Birds of a feather will flock together,
Because their pocketbooks are quite the same

Bert Craytor

 

[andrew81]

The world is full of different buyers.
Interestingly, many think the same
Birds of a feather will flock together,
Because their pocketbooks are quite the same

Bert Craytor

Good example of HBU

 

[andrew81]

The world is full of different buyers.
Interestingly, many think the same
Birds of a feather will flock together,
Because their pocketbooks are quite the same

Bert Craytor

If I agree with you, and I am always wrong, there must be a contradiction in there somewhere? lol

 

[residentialguy]

The world is full of different buyers.
Interestingly, many think the same
Birds of a feather will flock together,
Because their pocketbooks are quite the same

Bert Craytor

Enjoy your target practice

 

[djd09]

so what triggered the change? different GLA data?

well maybe, the problem isn't a standard, it may lie with who they hired. cheap and fast, oh never mind.

 

[RCA]

If I agree with you, and I am always wrong, there must be a contradiction in there somewhere? lol

I think there is an element of truth. But of course it is not that simple. To be more direct, real estate agents have a lot to say about pricing and we all know they tend to think simplistically in terms of price/sf. So, I asked the MBA real estate agent in Carmel once, "what do you think backyard cottages go for per sf?" He says: "I count it the same as the main house price/sf." My regression showed that in fact cottages were slightly higher per sf --- some 15 years ago. But it varies with neighborhood. Tourist towns like Carmel may be an exception.

 

[KenAZ]

So here is my first ANSI question. What does it say about an attached casita with an exterior only entry?

 

[jay trotta]

In your example, I would disagree with you. You can't take a 1400 sf ranch with a fantastic full finished walkout basement... same quality as the GLA, and call it GLA, then proceed to compare it to 2800 sf homes. It's not a 2 story. It's a 1400 sf ranch with a finished basement that you would compare with other 1400 sf GLA foundations. Calling it GLA doesn't mean it has more value. Below Grade can have the same $/sf as GLA. But you have to compare apples to apples in design/function

110% Agreed

 

[Tim Hicks (Texas)]

So here is my first ANSI question. What does it say about an attached casita with an exterior only entry?

Let me ask you this. Do you compare a 2100 sf house with 400 sf casita to a regular 2500 sf house? Shouldn't there be some form of obsolescence for access to the casita? Luckily, homes with casitas are typically in like/kind neighborhoods with similar house and casita properties. Where did I hear that apples to apples reference.

ANSI says if finished areas connected to the main body of the house with other finished areas (hallways, stairways) are include in the final square footage. Finished areas that are not connected to the house in such a manner (you have to go outside to access the other areas) cannot be included in the finished square footage on any level.

Once again, it does not mean it does not have value, but you need to have paired sales to show the value of that improvement.