New ANSI Z765 guidelines will affect your appraisal

[Kar Sun]

All,

This is really a nasty piece of news.

As of 4/1/2022 appraisers have new guidelines by Fannie Mae.

They will apply new measuring standards which in many cases will lower property square footage and as the result its value to compare with the properties that still use the old standard. So you subject property will have lower square footage and the same property in the same neighborhood that has not sold prior to 4/1/2022 will still have the old measurements. The real inequity and discrimination in action yet this will be touted as "being fair and equitable".