Feb 4th GSE requirements

[NJ Valuator]

Looks like there isn't a big enough data set for it to work well. Does it factor in GLA, condition, etc?

It is based on comparables that I chose. I export them to a csv and then insert it into the program.

 

[alebrewer]

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

Haven't used TT, as they don't have it up for NTREIS yet. TEEBA is cool if you want some cool looking charts and non-linear results.

 

[alebrewer]

Looks like there isn't a big enough data set for it to work well. Does it factor in GLA, condition, etc?

nope - literally two fields - contract_date and Close_price. If your data set are truly 'comparable' sales, you should get fairly reasonable results. If you're not filtering for comparable sales, its gonna be meaningless.

 

[shrubberyvaluation]

nope - literally two fields - contract_date and Close_price. If your data set are truly 'comparable' sales, you should get fairly reasonable results. If you're not filtering for comparable sales, its gonna be meaningless.

The only positive is that it's contact date. Comparable sales still have differences and if more comps that adjust upward or downward overall cluster it gives bad results.

 

[alebrewer]

The only positive is that it's contact date. Comparable sales still have differences and if more comps that adjust upward or downward overall cluster it gives bad results.

using a fairly homogeneous data set of some ~ 45 observations, I get the below from TEEBA. Based on my experience in that market, its not too awful.

 

[Mejappz]

Teeba's market based adjustments.

Can you imagine making these time adjustments? View attachment 97803

This is precisely what the GSEs desire: inflated prices reaching sky-high levels.

 

[NJ Valuator]

nope - literally two fields - contract_date and Close_price. If your data set are truly 'comparable' sales, you should get fairly reasonable results. If you're not filtering for comparable sales, its gonna be meaningless.

The comparables were already filtered i.e. location, bedroom count, etc. prior to inputting them into the program. Teeba only wants those 4 columns of data to be exported after you already decide which comps to use. Read the Teeba instructions. It is also Free 2 week trial so you got nothing to lose.

 

[NJ Valuator]

The issue I am finding with Teeba is that it is adjusting all the sales within the 12 months to the most recent sale. Granted it is only 3 sales but that is truly all that was comparable to the subject in the entire city.

 

[alebrewer]

The comparables were already filtered i.e. location, bedroom count, etc. prior to inputting them into the program. Teeba only wants those 4 columns of data to be exported after you already decide which comps to use. Read the Teeba instructions. It is also Free 2 week trial so you got nothing to lose.

Did you even read my post? I literally stated that if you do pre-filtering you should get ok results, but if you didn't filter for comparable sales it would be meaningless.

 

[NJ Valuator]

Did you even read my post? I literally stated that if you do pre-filtering you should get ok results, but if you didn't filter for comparable sales it would be meaningless.

Yes and I am confirming that I did filter......and still got meaningless results.