1. Welcome to AppraisersForum.com, the premiere online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Tempo5 MLS & 1004MC

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by William Rightsell, Mar 15, 2009.

Thread Status:
Not open for further replies.
  1. William Rightsell

    William Rightsell Member

    0
    Oct 22, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Any other Tempo5 MLS users out there??

    Tempo has a "statistics" feature to display the search results in a statistical chart rather than individual records....Looks like it may work pretty well for the 1004MC stuff..Gives number of listings, average DOM, list/sale price ratios, etc. If you search correctly, I think it will work pretty slick.

    Anybody else tried it/know what I am talking about?

    Just curious.

    todd


    Edit to add....It will still take at least 3 searches (the way I am doing it) to get it done - one for each time period.
     
    Last edited: Mar 15, 2009
  2. George Hatch

    George Hatch Elite Member

    191
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    The problem with the statistics reports is that they break out separate numbers for all the different status categories (active, pending, sold, withdrawn, etc). That means that you have to aggregate the medians, at which point your result isn't a median (or an average) at all.

    Besides that there is the extra time and effort involved in running multiple searches.

    I built one of my worksheets for a Tempo 5 system; I think it would work with your system, too. It requires the user to run a single search and does everything else automatically. If you can get it to work it would probably save you a ton of time and turn out more accurate results.

    http://www.box.net/shared/it1uf1n82v

    Look for the "Sandicor" version of the worksheet and it's instructional guides - that was built off a Tempo 5 system. It also works with any system that allows user-defined export formats.

    Once you get it together this is a 5-minute operation. Less, even.
     
  3. moh malekpour

    moh malekpour Elite Member

    0
    May 25, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I have simple tempo with no version number. It counts and does Average, Max, Min for brs, ba and GLA.
    Is that what you have or yours is different?
     
  4. George Hatch

    George Hatch Elite Member

    191
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    Moh, I think your system uses the Tempo 3 software, which also allows user-defined exports. Some SoCal users are reporting that the worksheet works with your system too.
     
  5. moh malekpour

    moh malekpour Elite Member

    0
    May 25, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    The worksheet works very well with my tempo version. The user define exporting of this version is fantastic. I can pick and choose any single item of listings in MLS in the order that I want. All I have to do is to find out what is in the worksheet column and select the range of exporting MLS accordingly. It right fits on the worksheet. I may have to widen some of the worksheet columns but that is only once.
     
  6. George Hatch

    George Hatch Elite Member

    191
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
    The instructional guide shows exactly which columns you need and in what order. If you've figured out how to build your own export format it should be plug-n-play for you.
     
  7. William Rightsell

    William Rightsell Member

    0
    Oct 22, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    This whole form is pretty whacko in my book...

    What do you consider a large enough data set to make the thing have any meaning??...ie....I was thinking of breaking it down by zip code and including ALL properties within that data set to get a sample large enough to mean anything and large enough to develop a trend.

    I know the directions say to apply the same criteria the market participant would apply when choosing the data set, but if I do that many times it is too small to make any sense...or the numbers jump around so much that its useless as far as determining a trend. Hence the zip code idea.

    And what exactly are they asking for on the form where it says "Median Comparable List Price"? Are they looking for the median list price of the sold sales you just presented two boxes above?? This would make sense, as you could calculate the LP/SP ratio two boxes below from those two figures....

    But if they are asking for the median price of the active listings...then the ratio is not meaningful at all....ie...you are comparing sold properties to a whole different set of active listings whose LP and SP are not tied to one another...Ridiculous.

    Any input??

    And yes George, you are correct...the stats feature breaks it out by property status...closed, active, pending, pending AB, etc....To make my life simple I may just use two statuses...closed and active. Give the form what it is requesting to the letter. May not be precise, as that leaves out the pendings, pendingAB etc, but the whole FSBO market is not accounted for anyway when working solely with MLS data, so its far from a complete picture to start with.

    The whole form can lead to conflicting results with what is actually going on, and unless the data sets are large enough, a trend cannot be determined.

    And how do ya get the total number of active listings for a given time period? It literally changes every day of the period. Ridiculous. I can give ya a count for TODAY, which is what I did in my trial runs. But the count for the prior 0-3 months is different every day during that time. The whole form is flawed beyond belief.

    Did they even ASK an appraiser when they drempt this thing up??

    Rant over...

    todd
     
  8. William Rightsell

    William Rightsell Member

    0
    Oct 22, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    George et al,

    Here is what my MLS stat report spits out.

    I just used closd and active.

    todd
     

    Attached Files:

  9. Mr Rex

    Mr Rex Elite Member

    196
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    The biggest shortfall with Tempo 5/1004MC is that Tempo doesn't have the capability to search active listings in discrete prior periods (3-6, 7-12) that the form asks for. Or am I missing something?

    Of course since Tempo is a derivative of First American, I'm sure they will provide a 1004MC search capability soon. I would dare bet before the deadline.:)
     
  10. William Rightsell

    William Rightsell Member

    0
    Oct 22, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Rex,

    Actually, you can get an idea of the previous listings per time period by searching on the "list date" field. Just search for each time period. But even that is not really accurate, as there may be listings in that period which were actually listed in the prior period and still active, so the whole thing is a mess.

    Gonna be fun...m2:
     
Thread Status:
Not open for further replies.

Share This Page