Serious SFREP software issue.

[JohnBama]

I discovered yesterday that the SFREP automatic calculations for unf basement area is incorrect. The software is calculating the below grade total sf as the unf area. This will only work if the subject and the sales do not have any fin basement area. The software does not subtract any fin basement area from the total below grade area to determine the amount of unf area. I noticed this on a report I was working on yesterday. The house was large with a good bit of fin and unf basement area. When I made the correction manually the adjusted sales price changed by almost $5000. This is a VERY big problem. I was on the phone with SFREP tech support and a programmer. They do recognize there is a problem and state they will get it fixed with the next update but cannot say when that will be. I got the feeling they did not understand the seriousness of this issue. If you are using this software you may want to make a call to express your concerns and let them know that this is a big deal. (800-644-4051). They need to know that hundreds, if not thousands, of appraisers may be completing incorrect appraisals every day.

What is even more frustrating is they apparently have known about this problem since right after the UAD form came out. I cannot understand:
a)why they have not fixed this issue yet
b)why they have not alerted all the SFREP users.

*This issue applies only to houses that have unf and fin basement area*
*If you take off the unf automatic adjustment and make the adjustments manually it works fine. Just adds some more time to the process.*

 

[residentialguy]

I don't know what you are talking about. You give a sq ft adjustment for the total area of the lower level and an additional sq ft adjustment for any finished area.

Further more, you can turn off any adjustment you want or give it any value per sq ft you want. I've verified the calculations manually and they are correct.

 

[JohnBama]

The problem is that the total area includes the fin area. The automatic adjustments are for basement (unf area) & finished below grade. If the software makes the basement adjustment for total area it is including the fin area, which is another adjustment altogether. Just so I'm clear this is a problem only on the UAD forms

Try this: open a blank report and go to page 2. For the subject show the below grade total sf as 2000 with no fin area. Now go to comp 1 and show the below grade total sf as 2000 with 1000 fin. Make some automatic calculations and check the results. There will not be any adjustment for the 1000sf unf basement difference on the comp. That is because the software is reading the 2000 as unf basement which is equal in this scenario. If the automatic unf basement adjustment was $10, and the software was functioning correctly, the comp should show an adjustment of +$10,000. That is a very large non-calculation and can have a huge impact on the comps final adjusted sales price.

I realize I can turn off the automatic adjustments and do it manually but why should I have to make manual adjustments?

 

[residentialguy]

The problem is that the total area includes the fin area. The automatic adjustments are for basement (unf area) & finished below grade. If the software makes the basement adjustment for total area it is including the fin area, which is another adjustment altogether. Just so I'm clear this is a problem only on the UAD forms

There is nothing wrong with that. The finished area is an additional value on top of the already calculated unfinished area.

I.E.
Finished area is $40 sq ft
If it were not finished it would be $15 sq

So to do this, you would put in $15 sq ft for unfinished area and $25 sq ft for the finished area, which is the difference of the finished to the unfinished $40-$15 = $25

 

[Scott R Marshall]

Ah, the wonders of the age of automation. People who get completely lost without their GPS. People who can't add or subtract without a machine to do it for them. I bet if they came out with a machine that funnelled food into our mouths, we'd forget how to eat without it. Or complain to high heaven when it broke down and we actually had to pick up a fork.

 

[Elliott]

I use SFREP. I don't think I've ever put in a automatic adjustment for basement.
Actually, if its unfinished its $5 or less, and finished is $10 or less per SF.

What I hate is that I feel like I'm in 2nd grade and can't just copy or type in
the sacred UAD info. Honestly, I can type in "N;R" 10 times faster than going
through two drop down menus and hitting apply. I wished there was a
"big boy" button I could hit which would allow me to just type the frickin form.
I'm responsible for my work, if I don't meet UAD rules, I learn, and it will be
right for the next 5 years.

 

[residentialguy]

I use SFREP. I don't think I've ever put in a automatic adjustment for basement.
Actually, if its unfinished its $5 or less, and finished is $10 or less per SF.

I don't know about OR, but if you have a $400k house with 1500sf unfin basement, it's worth more than $7,500 over a similar house without a basement.

What I hate is that I feel like I'm in 2nd grade and can't just copy or type in
the sacred UAD info. Honestly, I can type in "N;R" 10 times faster than going
through two drop down menus and hitting apply. I wished there was a
"big boy" button I could hit which would allow me to just type the frickin form.
I'm responsible for my work, if I don't meet UAD rules, I learn, and it will be
right for the next 5 years.

Now, now...you might put a space after the semi-colon...can't have that

 

[AnonApprsr]

The only automatic adjustments I use are GLA and Time (annual percentage) which is the most useful one.

 

[SFREPMatt]

This will be addressed with an update on Monday afternoon. Before we ever change something like this, we want to make sure that we're going to change it correctly. Therefore, we wanted to check with a couple more appraisers to make sure we had a consensus on how it should be done. It takes a little more time, but it ensures that we're doing it right.

Thanks,
Matt @ SFREP

 

[JohnBama]

There is nothing wrong with that. The finished area is an additional value on top of the already calculated unfinished area.

I.E.
Finished area is $40 sq ft
If it were not finished it would be $15 sq

So to do this, you would put in $15 sq ft for unfinished area and $25 sq ft for the finished area, which is the difference of the finished to the unfinished $40-$15 = $25

Just curious. Are you saying you are making adjustments differently because you realize the software is calculating incorrectly?