How do you keep your adjustments consistent across reports?

[hunterjmoen]

How do you all track what adjustments you've used in past reports? I keep running into the same problem where I'll use a GLA rate on a property, then come back to a similar one months later and have no idea what I used last time. End up digging through old PDFs trying to find it.

I've tried spreadsheets, notes in workfiles, none of it really sticks once you've got a few hundred reports behind you.

Do any of you have a system that actually works? Not talking about canned adjustments, more like a reliable way to look back at your own supported rates so you're not starting from scratch every time or accidentally contradicting yourself two reports apart.

 

[J Grant]

There is no mandate to keep adjustments consistent across reports. Each property is a new appraisal and might elicit different adjustments.i

 

[hunterjmoen]

There is no mandate to keep adjustments consistent across reports. Each property is a new appraisal and might elicit different adjustments.i

Fair point, and I agree each appraisal should stand on its own analysis. I'm not talking about copy-pasting the same rates across every report. But if I appraised two similar properties in the same market area three months apart and used significantly different GLA rates, I'd want to know why. Maybe the market shifted, maybe the comp set was different, maybe one had other factors at play. All valid reasons. The problem is when I can't even remember what I used last time to evaluate whether the difference is justified. That's where I keep getting tripped up. Not trying to force consistency, just trying to have enough visibility into my own past work that I can explain the differences if someone asks.

Do you just re-derive everything fresh each time?

 

[glenn walker]

Some convert into percentages for cookie cutter tract homes but those % percentages have to be updated to keep abreast of changes in your markets. Just don't ever admit your using that method as the purest in the industry frown on it....lol )

 

[Webbed Feet]

<snip> ..Not trying to force consistency, just trying to have enough visibility into my own past work that I can explain the differences if someone asks.

Do you just re-derive everything fresh each time?

If someone were to attempt a comparison of report adjustments used many months apart to question your work, that would mean that they would have to have a system to track all of that that you feel you do not have. It would seem very unusual as most regular users of appraisal services, that could accumulate such data, traditionally rarely give a damn. Perhaps governmental, that is about it, and they really don't give a damn either unless political and bank heads are rolling due to gigantic and public financial losses. All that stated, you just need a pretty easy to do searchable spreadsheet that you fill in each time you complete a report that allows you to find similar properties you have worked on and recall what basic adjustments you used. Very doable in about two hours or so I would say to design something nice to use.

 

[Surf Cat]

How do you all track what adjustments you've used in past reports?

How'd you come up with those past adjustments in the first place?

 

[hunterjmoen]

If someone were to attempt a comparison of report adjustments used many months apart to question your work, that would mean that they would have to have a system to track all of that that you feel you do not have. It would seem very unusual as most regular users of appraisal services, that could accumulate such data, traditionally rarely give a damn. Perhaps governmental, that is about it, and they really don't give a damn either unless political and bank heads are rolling due to gigantic and public financial losses. All that stated, you just need a pretty easy to do searchable spreadsheet that you fill in each time you complete a report that allows you to find similar properties you have worked on and recall what basic adjustments you used. Very doable in about two hours or so I would say to design something nice to use.

The spreadsheet idea makes sense. Have you actually kept one up over time? I've started something like that a couple times but always fall off after a few weeks when things get busy. Curious if anyone's managed to stick with it long-term or if it just becomes another thing collecting dust on your desktop.

 

[Dublin ohio]

The spreadsheet idea makes sense. Have you actually kept one up over time? I've started something like that a couple times but always fall off after a few weeks when things get busy. Curious if anyone's managed to stick with it long-term or if it just becomes another thing collecting dust on your desktop.

My software keeps track of my reports by various categories that are searchable. It keeps track by neighborhood. So I can search quickly by neighborhood and then look at the other info (style, GLA, bedroom, bath count). I could also search by zip, code, census tract or map reference

 

[hunterjmoen]

My software keeps track of my reports by various categories that are searchable. It keeps track by neighborhood. So I can search quickly by neighborhood and then look at the other info (style, GLA, bedroom, bath count). I could also search by zip, code, census tract or map reference

Interesting, what software are you using?

 

[J Grant]

Fair point, and I agree each appraisal should stand on its own analysis. I'm not talking about copy-pasting the same rates across every report. But if I appraised two similar properties in the same market area three months apart and used significantly different GLA rates, I'd want to know why. Maybe the market shifted, maybe the comp set was different, maybe one had other factors at play. All valid reasons. The problem is when I can't even remember what I used last time to evaluate whether the difference is justified. That's where I keep getting tripped up. Not trying to force consistency, just trying to have enough visibility into my own past work that I can explain the differences if someone asks.

Do you just re-derive everything fresh each time?

Just because you got ONE request for this could mean your adjustment was vastly different than in a prior report using the same comp or same subject - or that other appraisers have appraised. IDK but seems the CU red flag is triggered by outlier results.