Institute of Housing Technologies
Improving the Real Estate Information Network
Welcome to the World of Residential Square Footage
Been appraising for 31 yrs and actually learned alot about Ansi I never knew. Very informative. Thanks again.
S. Pierce - Mississippi
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You will never look at price-per-square-foot the same again!
When it comes to buying and selling real estate, we all want to get a fair deal. Sellers want to be rewarded for all their hard work over years of building their home, and buyers want to get a bargain and expect everything to be in pristine condition. Thus, the negotiations begin. Who sets the price and how do they determine the fair market value? Within this site you can learn all about the almost magical formula "price-per-square-foot. Discover how it should be used and how, much too often, it is abused. Welcome and thanks for visiting.
Whether it's a cup of coffee, a Coke, or a house, the more you get, the less per unit. 12oz, 16oz, 24oz, the more you buy the less per oz. Houses are generally the same. The larger the square footage, the less per-square-foot. Of course, like most things in the real estate business, there is a bit of "it depends" to every situation. But, for the most part the larger the house the less you pay per-square-foot. So, when you compare homes, always compare "apples to apples."
Zillow - Just Say NO!!
Zillow and other automated valuation sites are great for fun and curiosity. But, when it's time to figure out the value of your home, they are not now, and will never be, reiable or accurate. After tracking home values for over a decade, the errors are shocking. NEVER trust your home's value to any automated valuation program. It will take money straight out of your pocket!
ANSI, Home Measurement & the Power of Price-Per-Square-Foot, and Public Records, the Real Estate Information Crisis. Both courses now ARELLO Approved! Visit AppraiserELearning.com for details.
The Great Real Estate Consumer Rip-Off
Consumers are being cheated by real estate agents every day and no one is trying to stop them. Homes are priced by over anxious brokers who simply want to make a sale. How do they get a listing? They tell the home owner their house is worth more than it really is. Of course, every market is different, but even in areas with rising home prices, who decides what's a fair price? How much more is it worth than it was a year ago? And, does any of this sound familiar? Real estate agents have the power. They are the Great and Powerful OZ - the ones behind the curtain that controls home values all across the country. Brokers tell home owners how much their home is worth and then expect appraisers to prove the value is fair, calculating prices the fair way - the way the agents should have priced the house from the
One of the first mistakes agents make is how they calculate a listing value. Look at any CMA and you'll see the all-powerful price-per-square-foot formula.agents looks at a few "comps," (which many truly no not understand) and come up with an average price-per-square-foot number. They take that number and multiply that by the size of the subject property. here's where is really goes bad.
How many agents actually measure the house they are listing? Sadly, less than 17% of those we polled said they measured the house. Across vast majority said they took the number from the local tax office and assumed it was accurate. They are NOT!!! Across the country, the errors we found in square footage numbers we alarming to say the least. The county is not responsible for providing precise square footage details and agents should know this. Too many choose to ignore the facts because it's easier to use tax records than to have to measure the house. Why should you care? If you have an extra $10,000 to $40,000 then it's not a big deal. otherwise, those errors cost real people real money, and it happens every day across America.
I searched for a book on how to measure a house and could not find a single thing. For the next ten years I wrote one, knowing there were others like me who need a source to help them answer questions on measuring residential square footage. 100% money back guarantee. For agents, appraisers, assessors, insurance agents, builders, and anyone else who wants to know more about measuring and calculating square footage, the right way!
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