Posts Tagged ‘measuring square footage’

I have been asked by several people to describe how appraisers measure square footage. This is an important issue during the residential real estate appraisal process as appraisers use square footage as a significant factor when choosing comparable sales.

There is a guideline-ANSI Z765-2003-used by myself and many appraisers. This guideline, while not a regulation, is a part of the Appraisal Institute curriculum and recognized by many federal agencies. It was created by the American National Standards Institute (ANSI) at the request of the National Association of Home Builders in 1996 and updated in 2003. The standard describes measuring and calculation procedures used to determine the square footage of detached and attached single-family homes. The Appraisal Institute curriculum also states that appraisers should be aware of how measuring square footage is done in their area…and, to make it all more interesting, some of the bigger players in the market place (FHA, VA, Fannie Mae, etc.) have their own standards. (more…)


Read Full Post »