Would you include this in the GLA starting 4/1/22

[TerryRohrer]

Clearly, it will be necessary to revise ANSI on a biannual schedule, thereby necessitating ANSI update CE each cycle, along with the purchase of the new standards. Anyone know if TAF has purchased this "standard?"

 

[Elliott]

Maybe the best way to treat the difference is to complete the report based on GLA, then make an adjustment for the ANSI difference, so it will be ANSI compliant. "The ANSI finished area would reduce the attic area by X square feet, the impact of this slightly smaller finished living area would probably not be recognizable by the market since the X square feet is functional, usable, and consistent with other comparables in the market."

 

[TruJa]

We could just put it on another line and note that it doesn't meet the 50% requirement. If it is equal to GLA, then adjust at the same rate (take with one hand and give with the other hand).

 

[RCA]

If appraisers don't agree to follow the standard, it will create problems. So, some are saying here they would include that area in the GLA. It gets recorded in the MLS. Buyers rely on it. Oh yea, there are going to be lawsuits here in CA.

No, no no. You had better go with the flow here and follow the standard and GSE guidelines. I certainly wouldn't stick my neck out. Not in this state. There are plenty of people taller than 5'.

Just follow the damn standard.

 

[Yuanyin]

I can see it too. A person buys a cape COD or place with a finished attic or whatever. The appraiser stated it has a GLA of "X" because the appraiser said screw ANSI, or didn't know about it, or didn't understand it. Then that buyer does a re-fi 6 months later and the new appraiser does it the correct way, the house has a smaller GLA, and the owner thinks they may have had their home overvalued. Then they call their agent, and an attorney etc...I cannot see abandoning the ANSI standard just b/c you don't like standards. I just truly wish MLS systems and realtors also had to follow the same standard. Everyone should be on the same page.

 

[TruJa]

I can see it too. A person buys a cape COD or place with a finished attic or whatever. The appraiser stated it has a GLA of "X" because the appraiser said screw ANSI, or didn't know about it, or didn't understand it. Then that buyer does a re-fi 6 months later and the new appraiser does it the correct way, the house has a smaller GLA, and the owner thinks they may have had their home overvalued. Then they call their agent, and an attorney etc...I cannot see abandoning the ANSI standard just b/c you don't like standards. I just truly wish MLS systems and realtors also had to follow the same standard. Everyone should be on the same page.

It also shows that we better include elevations like this (and maybe extra photos) in our workfile and maybe in the report. I see an unscrupulous flipper adding new pony walls which shrink the room 1' on each size, but suddenly increase the GLA, and suddenly there is a significant discrepancy with the prior appraisal which someone wants resolved.

 

[Vermonter]

Maybe the best way to treat the difference is to complete the report based on GLA, then make an adjustment for the ANSI difference, so it will be ANSI compliant.

Think I will have to do something similar in my area. Too many period homes have second floors that would either be significantly smaller by the standard, or not qualify as GLA at all. Comps that I haven't measured myself will be based on public records, which will always count a similar space as GLA.

So it's either play grid gymnastics or stop adjusting for GLA all together.

 

[TruJa]

How many appraiser's does it take to change a lightbulb? CHANGE?!?

 

[norapp]

This ANSI thing is making me crazy. I think it is the dumbest idea ever and can't believe it's moving forward. Who is responsible for this ****show. This makes UAD look lame. There are a lot of old homes built before the turn of the century that do not have any ceilings that reach 7 feet. There are also homes built in the late 60s early 70's that also have ceiling heights under 6 feet. I feel like that emogi with it's head exploding. I swore I would not do desktops but if thing gets too difficult (lenders, brokers, buyers, sellers), I may change my mind. I know I can explain explain explain in my reports but it won't matter. Someone, somewhere in the chain is going to have issues and that becomes my issue. I think I am going to put an addendum page together and copy and paste the ANSI rules front and center and put it in my report before the first page. Maybe someone will actually read it. We really should try and get a petition going with appraisers who object to these new measuring rules.

 

[Elliott]

The adjustment for ANSI, in this thread isn't that difficult. If GLA adjustment is 100 per square foot, the inclusion of the non-ANSI GLA could be run at 40 per sf.

I swear my FHA Chief Appraiser instructor told me to measure attics at the 4' height for the base width.