Do you adjust listings in the grid?

[KD247]

BUYERS make emotional decisions and there very well may be reasons they will pay more for one home over another that is comparable. They make emotional decisions, different color, different style house next door, faces a different way, etc.. Just because we say they shouldnt pay more on the principal of substitution doesnt mean they wont.

You haven't met my hypothetical typical buyers. They are very well behaved, make rational decisions, and always search out the best deal. If your hypothetical typical buyers aren't living up to those standards, you should fire them.

 

[bmallory]

i adjust, usually downwards, by looking at the sale price to list price ratio over the past few months in the subject market area. i also make adjustments to the other line items. recently, i've been including 3 active listings, along w/ my sold comps. with the challenging/different sales environment that we have had in my county, i think it provides a more credible report. i'm SURE others will disagree. that's why i love being my own boss.

 

[McPheeters]

I'm not going to adjust & explain my reasons why & scan in the listings.



Yep.

 

[Mike Kennedy]

I'm not going to adjust & explain my reasons why & scan in the listings. Yep.

If/WHEN the SOW for an assignment requires GRIDDING the actives; what's your plan/method to deal with Client directed SOW?? :new_smile-l:

 

[McPheeters]

If/When....well Mike, I do not have to take on any assignment with pre conditions/SOW that i find unacceptable, like gridding/adjusting listings on a comparable sales form-page......a la LSI. There, that was easy!:new_smile-l:

 

[David Dietz]

PE:

You keep saying forecasting is not possible, so how do you complete a DCF without forecasting based on trend analysis and historical market data. If forecasting of value is not possible yet value by way of DCF is largely based on forecasting. How do you figure the reversion.

 

[PropertyEconomics]

PE:

You keep saying forecasting is not possible, so how do you complete a DCF without forecasting based on trend analysis and historical market data. If forecasting of value is not possible yet value by way of DCF is largely based on forecasting. How do you figure the reversion.

NO thats not what I have been saying or mean. Im not going to forecast a SALES PRICE ... for a property that hasnt sold. Thats all ... its not about the method of forecasting .. its .... never mind. My mind isnt that small ... but Im not going to predict a sales price for a property that hasnt sold.

 

[KD247]

NO thats not what I have been saying or mean.

I forecasted that you were going to say that!

 

[PropertyEconomics]

Yes you can read minds Mdm Cleo. Give your self $24.95 for the reading.

 

[George Ellerman]

Yes you can read minds Mdm Cleo. Give your self $24.95 for the reading.

PE,
I'm just curious when you actually do any appraisals as you appear to be pontificating on this forum most of the day !
Just curious.