NC Appraising
Elite Member
- Joined
- Apr 28, 2006
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
I've been testing two cost depreciation softwares. Solomon and aloft.
I used new construction sales in a tract home PUD with minimal upgrades.
+-1,700 and 2,000 sqft. GLA adjustments are around 70 psqft based on comparing base model homes and match pairing.
Solomon gave a 115 GLA adjustment. I had to increase the land value to $160k for the calculator to spit out a 70 GLA adjustment.
Typical allocation ratio is 23%‐29%. Site value is around $105,000.
See attached aloft....land value was low.
See comp 3. The only adjustment that was needed was for the GLA.
For some reason they lowered the site value and keep the GLA adjustment high.
On the other one, I increased the quality to get the site size to be online with comps1 and 2. Aloft was at around ±-125 psqft.
I really like Solomon and aloft. But they have to allow for appraiser inputs especially in aloft.
I used new construction sales in a tract home PUD with minimal upgrades.
+-1,700 and 2,000 sqft. GLA adjustments are around 70 psqft based on comparing base model homes and match pairing.
Solomon gave a 115 GLA adjustment. I had to increase the land value to $160k for the calculator to spit out a 70 GLA adjustment.
Typical allocation ratio is 23%‐29%. Site value is around $105,000.
See attached aloft....land value was low.
See comp 3. The only adjustment that was needed was for the GLA.
For some reason they lowered the site value and keep the GLA adjustment high.
On the other one, I increased the quality to get the site size to be online with comps1 and 2. Aloft was at around ±-125 psqft.
I really like Solomon and aloft. But they have to allow for appraiser inputs especially in aloft.
