To keep up on what is happening in appraisal businesses, mortgage lending, USPAP, etc. , Plus humor and strange homes, sign up for my FREE weekly appraisal email newsletter, sent since June 1994. Go to Home on the left side of the menu at the top of this page or go to www.appraisaltoday.com
Sign up in the Big Yellow Boxes
I regularly write about hot topics in appraising and appraisal business management issues
in my paid Appraisal Today monthly newsletter.
$99 per year or (credit card only) $8.25 per month, $24.75 per quarter, or $89 per year.
For more info, go to https://www.appraisaltoday.com/products
10 reasons why public records and the appraiser’s square footage can differ
My comment: Too many AMCs think that the assessor’s office square footages are correct, and the appraisers don’t know how to measure. Unfortunately, some appraisers just “fudge” the measurements to fit the assessor’s records. Big Mistake!!
From Ryan Lundquist’s Sacramento appraisal blog at www.sacramentoappraisalblog.com
I love this blog!!
Here are 2 of the 10 reasons:
5. Permitted but not updated: Sometimes a homeowner will do an addition with a permit, but the Assessor’s office never updates the property’s profile.
8. Ceiling height: A ceiling has to be at least 7 ft tall, and have at least 50% of the ceiling at a height of 7 ft. Sometimes a converted attic won’t meet these requirements, so the appraiser cannot consider it as square footage. It might still add value, but it won’t be included in the living area.
Click here to go directly to this blog post
How accurate is the reported square footage from the tax records in your primary service area?(Opens in a new browser tab)
Top Ten Reasons Why It Is Great to be an Appraiser Humor(Opens in a new browser tab)
Some appraisers are too lazy or strapped for time to measure anyway, especially upper floor area, areas below grade. Also, if the assessor’s data for the comps is incorrect, your whole appraisal is wrong anyway and misleads the user!
Isn’t “fudging” required to stay in business as an appraiser, especially for those of us wotking in the residential secondary mortgage market where everything must be on plain vanilla forms where one size fits all?