Feb 4th GSE requirements

[NJ Valuator]

Here comes another entry. Reportedly by the Solomon folks.

Teeba - Market Condition Adjustments for Appraisers

Automated market condition adjustments for real estate appraisers.

www.teeba-calculator.com

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how is it that Teeba can cover any location regardless of the MLS yet True Tracts cannot do the same?

 

[Non Sequitur]

how is it that Teeba can cover any location regardless of the MLS yet True Tracts cannot do the same?

Because you download MLS info via a csv file into Teeba, True Tracts pulls info from the MLS via an API(?). True Tracts is working on getting permission/access with a bunch of systems.

 

[NJ Valuator]

Because you download MLS info via a csv file into Teeba, True Tracts pulls info from the MLS via an API(?). True Tracts is working on getting permission/access with a bunch of systems.

Then True Tracts should do the same rather than waiting for permissions.

Do you think that Teeba and True Tracts are equal regarding credibility or does one have an advantage over the other?

 

[Non Sequitur]

Then True Tracts should do the same rather than waiting for permissions.

Do you think that Teeba and True Tracts are equal regarding credibility or does one have an advantage over the other?

Teeba is a statistics software/spreadsheet. True Tracts is basically an appraiser directed valuation model, that's why it needs live access to the MLS system. Which is better? IMO Teeba for current use. But True Tracts, Aloft, NightHawk (Bradford's offering), etc. are the not too distant future standards.

 

[Digger88]

I am finding that these non linear adjustments are inflating values. By the time I made adjustments the adjusted sale price range was $50,000 over the sales price.

no need for 'low' appraisals anymore everything is coming in just fine. Every recent sale in my area is still over list ($550k condo with model match condos at $525k in a different area) this solution seems to "fix" that no matter what trendline I use though linear seems most appropriate in this case

 

[NJ Valuator]

no need for 'low' appraisals anymore everything is coming in just fine. Every recent sale in my area is still over list ($550k condo with model match condos at $525k in a different area) this solution seems to "fix" that no matter what trendline I use though linear seems most appropriate in this case

View attachment 97764

what is this platform that you are using for the time adjustments?

 

[Non Sequitur]

what is this platform that you are using for the time adjustments?

That's Spark, a sister product of True Tracts. If you use TOTAL you can go to the TOTAL store and test drive it for $28/four reports. It works like Teeba, create csv files and drop them in. It does more than the time/market condition illustrations, search YouTube for a video because it's a little more involved than the stand alone time/market condition offerings out there.

 

[NJ Valuator]

Unfortunately, Spark does not cover my primary MLS. I keep checking periodically. I also use ACI.

so Spark and True Tracts both do the same thing?

From what I read the difference between Spark, True Tracts, and Synapse is that Spark is for form filling the comps from the MLS, True Tracts is for the non linear time adjustments, and Synapse assists in determining adjustments. Is that correct?

 

[Alsie35]

I may be a dinosaur, but I absolutely HATE - with a WHITE HOT passion - any services that charge you by-the-job, or by-the-month and make you use their "Cloud Platform" - I say to them: "**** you and the horse you rode in on".

Produce ONE software program that does what we need, charge us ONCE and let us download it and use it for the rest of time with no additional charges - THAT is the way to do business.

Oh wait. I do HAVE such a thing. And its proprietary. And its free.

Oh well. Too bad so sad newfangled cloud **** thieves!

 

[Non Sequitur]

From what I read the difference between Spark, True Tracts, and Synapse is that Spark is for form filling the comps from the MLS, True Tracts is for the non linear time adjustments, and Synapse assists in determining adjustments. Is that correct?

I use Synapse and Spark right now. All three are under the same corporate umbrella. Synapse for "traditional" adjustments, Spark for comp filling/1004MC, cost data through Dwellingcost.com, and they added non-linear time/market adjustment capability last month. Both are stand alone and you drop csv files into them, but either they have to create a custom template or if you have the skills you can make it work by matching the MLS fields into something Synapse/Spark recognizes, but that's beyond my capabilities.

True Tracts is what they are heavily promoting for the new made up GSE nonsense, but it's much more than time/market condition software that's why it needs access to the MLS. It's going to grow into their solution for UAD 3.6 data filling, adjustments, etc.