Needing your home measured? Let Marketrend Appraisals+ help.
Inaccurate estimates on public records will affect a property's value — and a buyer's interest in it. Let Marketrend Appraisals+ give you a reliable home measurement to assist in establishing a fair value when purchasing a new property, marketing a property to potential clients, or reducing your property taxes.
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What are home measurement services?
Home measurement services are just what they sound like: Based on your requirements, an appraiser will measure your home's dimensions and area to an industry accepted ANSI Standard, then draw a basic to highly detailed computer generated drawing that also meets the ANSI Standard.
The appraiser's drawing is a document that can be used to prove an accurate Gross Living Area (GLA), the total livable space, of your home.
These services are useful and sometimes necessary when disputing property taxes or selling a property.
What is the ANSI Z765-2021 Standard?ANSI is the American National Standards Institute. ANSI measurement standards for appraisals are a set of rules for measuring, calculating, and reporting the gross living area (GLA) and non-GLA areas of residential properties. Fannie Mae requires appraisers to use the ANSI standard for appraisals with effective dates of April 1, 2022 or later for loans sold to Fannie Mae. The ANSI standard has specific guidelines for measuring and reporting different spaces, such as staircases, basements, sloping ceilings, and openings to the floor below. The ANSI standard is intended to create alignment, transparency, and consistency in the valuation of residential properties. Appraisers may need to adjust the GLA of comparable sales that are measured differently. The ANSI standard applies to detached and attached single-family residences, including accessory dwelling units.
How does a home measurement service work?
During a measurement service, an appraiser measures the home with a measuring tool — generally a tape measure and/or laser measuring device. As they tour the house, they notate the layout of the rooms and other features, like stairs, patios, and fireplaces. They draw a rough sketch of the property. Then, the appraiser develops a report and a more detailed computer-generated drawing showing the total living area and the general layout of the home. The result is a document that can be used to prove certain specs of your property — like the Gross Living Area (GLA) — on tax documentation, property listings, and more.
When are measurement services required?
Tax records frequently reflect incorrect square footage because the values can come from many sources, and occasionally go unverified — meaning you may be taxed for more square footage than you actually have! Unless an appraiser has recently performed an evaluation on your property (after any renovation that might have affected square footage), you'll need one to perform a home measurement service before contesting your taxes. An appraiser will establish an accurate Gross Living Area (GLA) of your property so your taxes can reflect your actual square footage — and you can stop overpaying.
Selling a property
A measurement service can ensure that you're paid a fair price for your house. Living space is one of the biggest elements potential buyers look for when purchasing a house — but since square footage values are frequently estimated rather than accurately measured, your property listing might show less Gross Living Area (GLA) than it can take credit for. An inaccurate GLA could potentially reduce the selling price of your home as well as the number of potential buyers. The only reliable method of using a precise GLA when listing your home is to refer to a recent appraisal or measurement service carried out by a certified appraiser (after any remodeling that may have affected square footage).
Material for real estate agents
To ensure that your client's home sells at a price that properly reflects market value, we suggest asking for a measurement of the property. Your clients, and especially potential buyers, will appreciate your attentiveness, and you can be assured that the GLA on your client's listing is truly representative of their home. A measurement can also be a wonderful marketing tool for getting potential buyers interested since they can review the layout and features of the property before and after touring. Contact Marketrend Appraisals+ today to learn more about our home measurement and floorplan services.