How are you handling "support your adjustments" revision requests?

[hunterjmoen]

Getting more of these lately where the reviewer wants paired sales or regression support for basically every line item on the grid. Time/date, fine. But when they want me to prove my GLA rate with a paired sales analysis on a report I'm getting paid $500 for, it feels like the math doesn't work.

For those of you getting these regularly, are you building up a library of paired sales you can pull from? Or are you doing fresh analysis every time and just eating the hours?

 

[Bill75]

Getting more of these lately where the reviewer wants paired sales or regression support for basically every line item on the grid. Time/date, fine. But when they want me to prove my GLA rate with a paired sales analysis on a report I'm getting paid $500 for, it feels like the math doesn't work.

For those of you getting these regularly, are you building up a library of paired sales you can pull from? Or are you doing fresh analysis every time and just eating the hours?

Use TruTracts, it's $99/mo or learn how to do various regression models.

 

[OSU Beavers]

While the TrueTracts heat map is hot garbage for anything but large metro areas, I did keep my $30 per month Synapse which gives me a huge zip file with fancy words for my work file and a one page summary of adjustments to make reviewers STFU.

 

[hunterjmoen]

While the TrueTracts heat map is hot garbage for anything but large metro areas, I did keep my $30 per month Synapse which gives me a huge zip file with fancy words for my work file and a one page summary of adjustments to make reviewers STFU.

That's interesting, the one page summary for the workfile is basically what I'm after. Something I can point to when a reviewer pushes back instead of scrambling to put together support after the fact.

Does Synapse pull from your own past reports or is it running fresh analysis off MLS data each time?

 

[sputnam]

Getting more of these lately where the reviewer wants paired sales or regression support for basically every line item on the grid. Time/date, fine. But when they want me to prove my GLA rate with a paired sales analysis on a report I'm getting paid $500 for, it feels like the math doesn't work.

For those of you getting these regularly, are you building up a library of paired sales you can pull from? Or are you doing fresh analysis every time and just eating the hours?

I don't get those sorts of revision requests because, I already summarize the support for every adjustment made. I wouldn't allow an underwriter to tell me what method to use for what adjustment. The methods use should be based on the quality and quantity of the data that's available. Sometimes matched pairs is the way to go. Sometimes, it isn't.

 

[Tom D]

I don't get those requests. I use charts, regression model and synapse in each report. I learned early, easier to show it there, then sitting in my work file. With synapse you have to load new data with each appraisal to be accurate. But the excell template is easy to set up, they have how to info. And the MLS provides excell data, well mine does. Once everything is set up with your templates then it's easy for them to do your adjustments while showing how. Now with items like baths, etc I say i use cost $ amount new minus depreciation. patios, decks, porche just a number, but the same thought, minor adjustments.

For GLA, there has been many times posted here an excell chart that shows how you got it. Mostly pretty good, and you can change the GLA final $ amount. But is shows that at least you gave it some value thought. Sometimes GLA doesn't make sense. This is the excell file attached, you just add in numbers. Take the time to learn excell.

 

[Mark K]

Won't be long (or maybe they already do it) until they want proof for $0 adjustments. Prove that they are sufficiently similar that they require no adjustments.

 

[Terrel L. Shields]

For those of you getting these regularly, are you building up a library of paired sales you can pull from? Or are you doing fresh analysis every time and just eating the hours?

Sensitivity is the way to go, GLA is easy. Takes about 5 minutes to do on Excel. No regression, although I run that occasionally. And single linear regression works as well.

Just plot x and y and draw a line between the data points and extrapolate the trendline back, forward and all points in between.

 

[Chris Wagoner]

Won't be long (or maybe they already do it) until they want proof for $0 adjustments. Prove that they are sufficiently similar that they require no adjustments.

Already had this requests, particularly for the concessions area

 

[Mark K]

Already had this requests, particularly for the concessions area

Can't say I blame them for that one.