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Question Re 1004mc

Discussion in 'General Appraisal Discussion' started by Gregory Beck, Jul 6, 2011.

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  1. Gregory Beck

    Gregory Beck Senior Member

    3
    Aug 6, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Quick question I have asked realtors, and on site searches to no avail

    Can Anyone tell me the difference or explain

    Difference between listing days on market and sales days on market

    I would really appreciate it.

    I am guessing the median listing days on the market comes from
    the date listed to the contract or pending sale date.

    But where does the median sales days on the market from?

    Is it from pending sale date to closing date?
     
  2. Mr Rex

    Mr Rex Elite Member

    88
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    In my MLS its from the original Listing date until Contract date.
     
  3. Mile High Trout

    Mile High Trout Elite Member

    2
    Feb 13, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    I report those the same, if I'm following you.

    The property has x market exposure. Count it from the day listed, to the day UC. Check that against your indicated figures to guage how the mls is reporting.

    Just state not researched on top two actives dom, and report on current. That' will typically pass you through underwriting.

    They're looking mostly for accurate list to sale analysis of all periods. Set that against expectation of current stock and current list to sale and you've got an informative mc form.
     
    Last edited: Jul 6, 2011
  4. Gregory Beck

    Gregory Beck Senior Member

    3
    Aug 6, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I may have confused people with my first post this should be clear.
    The 1004MC ask 2 questions
    There are 2 grids
    Median Comparable Sales Days on the market
    Median Comparable Listing Days on the market

    Normally when I run David Braun’s AVT 1004 mc calculator it automatically places
    The figures in these 2 grid columns. With the comparable sales days
    always being lower than the listing days.

    I know how they come up with the median listing days, obviously from the
    date first listed on mls to the pending sale date? I think (listing days on market)

    My Question is
    Where and how do you get the Sales Days on the market. Is it from the pending sale date
    to the closing date?

    I talked to a good realtor friend of mine and he couldn’t explain the difference to me either.

    So any help would be appreciated on this.
    Thank You
     
  5. Mr Rex

    Mr Rex Elite Member

    88
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    The median listing days is higher because it also includes all the expired and withdrawn listings that were listed for 6 months+ (typical listing agreement around here is 6 months)
     
  6. Gregory Beck

    Gregory Beck Senior Member

    3
    Aug 6, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I agree

    Yes I agree with you that gives us the listing days on market

    but what about
    sale days on the market where does that figure come from?
     
  7. Mr Rex

    Mr Rex Elite Member

    88
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    It is from the time the property is listed until it goes under contract.
     
  8. Gregory Beck

    Gregory Beck Senior Member

    3
    Aug 6, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Days on Market

    I don't want to sound stupid I think I may be on the wrong page.

    MEDIAN LISTINGS DAYS ON THE MARKET
    that is what you are saying in the above sentence and I understand it

    where I get lost is

    MEDIAN "SALES" DAYS ON THE MARKET
    Where does that number come from? Help:Eyecrazy:
     
  9. Lakefront boater

    Lakefront boater Member

    0
    Jul 9, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Michigan
    It will be difficult to get accurate median listing DOM for anything but the prior 3 months, due to the changes a listing has gone through those previous months.
     
    Last edited: Jul 7, 2011
  10. Mr Rex

    Mr Rex Elite Member

    88
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    The listings include any and all properties that are listed but not sold. Active, Expired, Withdrawn, etc. The median days are the number of days that these unsold properties have been listed as of the time period in question.

    The sales includes all the properties that have sold. The median days is the time from the original listing untilt they go under contract in the respective time period.
     
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