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

Forum Sponsor - a la mode

Learn more about Titan Reports, our new cloud-based formfiller, SmartExchange, Titan Office, and Titan Drive to see how you can revolutionize your appraisal business.

2008 Cost Data

Status
Not open for further replies.

Alan Gertner

Thread Starter
Member
Joined
Nov 1, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I completed my upgrade from the NBC 2007 -> 2008 cost data. The upgrade took a little longer this time due to changes and additions to the cost data. Several interesting revelations were made during the upgrade:

- Dramatic increase in costs, over 100% in some cases. The high end cost increases were much more than the low end costs increases.

- The Quality classes were redefined and 3 new upper end classes were added.

- Larger GLA categories were added to the cost tables.

- Manuf Home cost data was added.

- You MUST have user defined cost modifiers available to make this (and most other) cost data work for many properties.

Total time to update the cost data in my integrated system: 1/2 day

Total expense for cost data in 2008: $25 for book + 1/2 day time

Value of cost data knowledge/usage obtained during the update: Eye opening.

bueno suerto.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I noticed the changes in NBC and am thinking about dropping my NADA MH book. It hardly pays for itself in the lines that I appraise anyway. And it is up to $170 a year now.
 

Tom Woolford

Elite Member
Gold Supporting Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
NBC? I've just always used Marshall and Swift but I'm open to a lower cost alternative. Just what is NBC.
 

Jason Barber

Junior Member
Joined
Feb 16, 2006
Professional Status
Certified Residential Appraiser
State
Michigan
I believe it's the 2008 National Building Cost Manual



I've never used it either... but would be curious to hear others opinons on reliability vs Blue Book or Marshall & Swift???
 

Alan Gertner

Thread Starter
Member
Joined
Nov 1, 2002
Professional Status
Certified Residential Appraiser
State
Texas

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I have used these for over 5 years. I find that it as reliable as M & S.
I also use the Means Residential SF Cost book which runs slightly higher and only contains residential property. I check each against the other and find I really prefer NBC although both usually arrive at roughly the same price.
Means is owned by Reed Construction which has been doing cost data since the 1940's. According to a personal propery / building appraiser I know (insurance adjuster) he was taught that NBC and Means rely upon the same databases that M & S do. The difference is in the way the different outfits manipulate the data.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks