The HMS has been out for about four months. It’s been a learning process for 20 years finally condensed into this standard. I’m sure you haven’t heard of it before now since it wasn’t available. ANSI has been out 25 years and how much do we know about that? I vote it’s time for something new. Could it hurt to look?

This is bull! Do you know how many times I subtract stairs because that’s how the assessor did it? Fixed ANSI standards will result in slight over valuation and mismatching weights for otherwise identical properties. Will FNMA require all assessors and builders to follow this rule? Please. The oldest builder trick in the book is to overstate the size by including stairs on both levels, but many builders do not do that and do subtract the stairs. How to overstate your properties size and apply unwarranted adjustments in many counties, follow ANSI regardless of the improper logic behind that approach. How to guarantee inconsistencies within the FNMA CU database and spark unnecessary appraisal reviews; Boldly state the subject is larger than stated in county records due to arbitrary application of ANSI standards even though everyone involved knows very well that’s not how the assessor comes about the agla figure. Create an extra fifty to a hundred square feet out of just nowhere. Brilliant!

FNMA should reconsider, this is nonsensical and counter productive. One size does not fit all. Going to need sketch waivers now or to figure how to use this exception code all the time. What is wrong with matching the assessors figures if the assessor appears to have subtracted stairs? Does anyone know who the new mini dictator at FNMA is whom is applying hardline unflexible policies like some poindexter know it all? Would like to write that individual a letter or just point them to these threads. Yet another example of government systems mismanagement. It would be comical if this policy was not primed to create systemic deficiencies in many of my future reports because many local assessors does not appear to have followed these standards. What if I get a repeat service request, am I supposed to magically present a different agla figure? Please.

4-9 a day????
no wonder majority of appraisals are total misleading garbage these days.

My market deducts 2 story great rooms. The foyer we don’t.

Joe Lograsso it is common in my market to include the 2 story foyer but not 2 story family. I think each market is different. Also im pretty sure that is what I was taught 15 years ago in class

The truth of the matter Eric is that square footage (sf) errors have what I’ve coined a “cascade effect”. If an agent over inflates the GLA by 100 sf in the MLS, the data is not a single occurrence, but rather if appraisers don’t seek the truth, the error is often used by dozens of the appraisers to value other homes in the area. With my typical assignment being well over 1 million, this single error could result in an over evaluation of +$20,000.

For those who may have been coached to churn and burn 4 to 9 appraisals a day, or spend as little as 30 minutes doing review before sending it off, is the truth being sought? Are you reviewing all of the old MLS listings to look for enclosed patios, basements, or bonus room verbiage that magically become sf in future listings? Are you looking at those old listings and the room dimensions to potentially find a variance? Are you calling and or emailing the listing agent for proof and reasoning for the increased sf? Are you researching for permits?

To those who put profits before principles, the answer to the above questions are most often no.

Seek the truth.

But If the assessor measured every property in that neighborhood and failed to subtract the second story of the foyer, your subject would then be shorted 211 sf of value.

Think about this for just a minute, if every source of square footage is exactly the same, would they need fee appraisals for reseidentisl properties. The technology is already in use and with out nuances of square footage, AVMS will only become more accurate.

Just finished an appraisal where the property appraiser didn’t subtract out the 2 story foyer. 211 sf difference. I would suggest measuring personally to ensure accuracy. Not to mention they round their numbers. Just my humble opinion.

Yes, but that is where all the realtors base their square foot totals. So, unless all 3 principles are in the equation, it won’t work. Right now is the best way of doing things. If an appraiser measures the subject, then fine. Go by that, but all the comparables are based on how the assessor measured it in the listings. For example, the appraiser measures 2300 sq. ft., but the same model in the assessment says 2400 sq. ft. and you want to use that as a comp. What are you going to do, measure the comparable too? You go by the assessor for the size because Realtors don’t measure the homes.

What a concept and possible amazing source of work, a uniform standard where all homes would be measured again. Wouldn’t that be something. I’ve often said, sketching is one of the more enjoyable tasks, if I could do this full time it would be really great. Only ranches though, lol.

Just found this, interesting.
https://www.e-rallc.com/ANSIstandards

Just because this investor ($550,000 / 10/20/2021), thinks they bought a magical stretching house, and many of my peers seems to agree, I have no problem issuing Tidewater ($715,000), and cutting value to $700,000. Fortunately, and or unfortunately, the increase in value is no magic trick.

Seek the truth.

Assessor? In my area that is the last pickle in the bottom of the barrel that we will use for GLA data, if there is no other reasonable data available.