ANSI: New Standards for Measuring Residential Properties
Starts:
Mar 28, 2022 1:00 PM
Ends:
Mar 28, 2022 4:00 PM
City:
Zoom
Location:
Zoom
Room:
TBA
Instructor:
Darwin Ernst, SRA, AI-RRS
CE Hours:
3
Network Provider:
NDAA
About the Course:
On December 15, 2021, Fannie Mae released this information:
~Fannie Mae — Standardized Property Measuring Guidelines
Appraisers will be required to use the Square Footage-Method for Calculating: ANSI® Z765-2021 (American National Standards Institute®) Measuring Standard for measuring, calculating, and reporting gross living area (GLA) and non-GLA areas of subject properties for appraisals requiring interior and exterior inspections with effective dates of April 1, 2022, (emphasis added) or later on loans sold to Fannie Mae.
Why the change?
Valuations of residential property correlate strongly with GLA, yet to date there is little consistency in how appraisers determine it. Our adoption of the ANSI standard for measuring, calculating, and reporting square footage:
· Creates alignment across market participants.
· Provides a professional and defensible method for the appraiser.
· Allows transparent and repeatable results for the user of the appraisal report.
Join us VIRTUALLY BY ZOOM on Monday, March 28, 2022
1:00pm — 4:00pm Mountain Time
2:00pm — 5:00pm Central Time
About the Instructor:
Presented by Darwin Ernst, SRA, AI-RRS, from Hamilton, Montana
Darwin was on the consensus committee for Fannie Mae and has a lot of knowledge to share
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