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E-ppraisal

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KD247

Senior Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Excepting form software and digital photography, E-ppraisal was the single most valuable tool I've ever used.

For those who aren't familiar with it, E-ppraisal was a data service that integrated directly with appraisal software. Using E-ppraisal, it was possible to do comparable sales searches (or look up individual properties) on three different data sources at the same time.

From these data sources (Metroscan, CMDC, and the local MLS), information was extracted and presented in a table resembling the Sales Comparison Analysis of the URAR. By "zooming in" on the data sources, it was easy to see where the data sources differed and it was even possible to see the comments from the MLS.

Using another view, with one line per comparable sale, it was easy to view the most important details of 20 or 30 comparables (including listings) at once. On that same screen, the comparables could be easily sorted (by GLA, Sales Date, Lot Size, etc.) and then moved to their final "position" as Comp #1, 2, 3, etc. The next step was to print a detail report showing the six best comps and a one-line list showing all of the comparables considered (a great back-up in case the subject turns out to have a physical or locational quirk).

A couple of clicks produced a zoomable map that could be easily printed for use in the field.

Using E-ppraisal, I could do thorough subject and comp searches in about 15 minutes for typical properties. But, the best part was that E-ppraisal would automatically place all of the Subject and Comparables information on the form. Combining this feature with a neighborhood template meant that 90% of the typing was eliminated and the reports were generally more accurate because of decreaed opportunity for typos. Reports were generally of higher quality because it was practical to consider a wider base of comparable sales and more time could be spent checking the report for compliance and logical consistency.

I would love to find a replacement for E-ppraisal. Any data/software folks listening?
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
8O
WOW!

Us folks in the hinterlands have never had such things available to us... We get to build our own databases since none exist!

I DO see how some few folks might be able to generate volumne appraisals with such a wonder program... and here I thought you were making it up as to speed!

but what I want to kno is howcumzit you all get PAID at a comparable rate when we do 98% more work to achive the same (or marginally better) end?

Sigh, I know, blame it on my competition :evil:
 

KD247

Senior Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Lee Ann,

I spent most of my appraisal career doing properties that had to be individually researched with trips to the Recorder's Office and calls to brokers, so I can certainly relate to someone who works without access to online data sources. (And I hope I never have to do that kind of work again!)

There are lots of appraisers in this area who crank out barely acceptable half-jobs and make twice as much as I do. In fact, I know of at least three "appraisal shops" that have one licensed appraiser as the sole signatory on the work of 5-20 trainees. Some of these guys could be pocketing close to $1,000,000 a year! But I like to go to sleep with a clean conscious and the satisfaction of a job well done so I've always been a one-person operation.

Now, that doesn't mean that I won't try to make things as efficient as possible for myself. As far as differences in income, you're always welcome to come join us in the land of frantic lives, high housing costs, and congested freeways! No? I didn't think you'd be interested. Sometimes the hinterlands are the best place to be.

(I'm procrastinating because I've got to get back to work on this fourplex. After two days of work, I've got the value range narrowed down to somewhere between $700,000 and $1,400,000! Maybe if I used a Disto and measured to the nearest inch, the value would be more obvious. Or maybe Austin can produce a regression analysis that includes the $1,250,000 duplex, the $975,000 triplex and the $900,000 eight-plex (?) that are among my best comparable sales. Can I make an adjustment for "General Speculative Appeal"?)


Have a good Thursday,

Koert
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
you're always welcome to come join us in the land of frantic lives, high housing costs, and congested freeways! No? I didn't think you'd be interested.
LOL been there moved out cause at the time (late 70's and starving college student) I couldn't hack the entry fee, and after the divorce where he got the ranch and I got the bills :roll: Guys don't tell me the GUY always pays :wink:

a regression analysis that includes the $1,250,000 duplex, the $975,000 triplex and the $900,000 eight-plex (?) that are among my best comparable sales. Can I make an adjustment for "General Speculative Appeal"?

Actually regression analysis probably WOULD give you a lot of information, but you still have to KNOW YOUR MARKET to toss (or attempt to explain) any outliers!!!
As to your final crack: Yes of COURSE you can... call it whatever you want, but ya gotta support it :!: :p
 

EDWARD BERRY

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Arkansas
For MANY years SFRES had a program that would capture our MLS data, we could then search for comps based upon sd criteria(sic) and then BANG them into the grid. Of course a little clean up was necessary, BUT the numerical data that was input had no typos-unless the original was wrong.

It was the most time saving feature I ever saw.

Just try to convince ANY software company that is what we need.

The programmers have control of our industry, not us.

If it were not for EDI, I would still be using SFRES on DOS.

Of course EDI is time saving and I thank the software companies for it.

Field data gathering AND MLS import will be the time saving feature of tomorrow(Or in years).

However, just try to get the software companies to do that.

O yes, Alamode says the have it- so I ordered it-will not run on WME.

That was the newest OS last July whe i bought a new computer. What were they selling then?

UPgrade-no way--Only use new computer with installed OS.

i Will PAY $2,000 for decent FIELD data system and MLS import.

Any takers?

Backward ed in arkansas
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
Lee Ann

Sounds like ou gotcha one bad lawyer.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Bill:

No lawyer, just I loved my in-laws and wasn't willing to jepordize THEIR investment in the property... no point, he wouldn't have moved, even had he been willing to vacate, I couldn't have bought them out!

Idjut ex had no $$, no good prospects for getting any, and though I could have fought for my share, it was just ethically cleaner to walk on!

I retained MY self respect garnered a whole bunch more from them, and so it went. I got most of the bills paid off within about 6 months of gypsy living and 18/7 hard work - kinda like appraising but more lucrative :wink:

And you are very welcome, Koert - hope it helped :D !
 
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