Free cost approach data

[BJ]

Do you guys have any links to sites that would be adequate for doing the cost approach? I was using M/S residential xpress, but hardly anybody wants the cost approach anymore.

Thanks

 

[bart nathan]

http://www.building-cost.net/

 

[Terrel L. Shields]

Buy National Building Cost Manual (2009) with the CD.... Cheap, will print out a sheet. Seems as reasonable as M & S. M & S is rapidly pricing itself out of business in my opinion.

 

[Steve Metz]

Building cost net is more accurate in my area M&S seems to be more accurate in the NE. Do some local reasearch. Call contractors and interview people. That is free.

 

[John Wilson]

Building cost net is more accurate in my area M&S seems to be more accurate in the NE. Do some local reasearch. Call contractors and interview people. That is free.

Does Building-Cost.net break out individual costs for basements and garages or does it just lump it all together?

 

[Blue1]

Buy National Building Cost Manual (2009) with the CD.... Cheap, will print out a sheet. Seems as reasonable as M & S. M & S is rapidly pricing itself out of business in my opinion.

Thanks Terrel...Just got it...It's great...

 

[jay trotta]

been using it for years, it provides the "beware" stuff right in there; check the local bldrs and see how close you are. No matter which one you use, it always requires a tweek here N there.

 

[VolcanoLvr]

I use Building-Cost.net.

I print their estimate to a PDF, then import those 2 pages into my report, as the last pages.

The 'cost' is entered on the CA line where it says "Total Estimate of Cost New." I let the alamode auto calc function subtract the depreciation (even though Fannie does not want that included), and always provide an unimproved land value. I do not fill in the rest of the CA info on the form.

I also include a separate page explaining why the CA should not be used to calculate Insurable Value. That is not, and should not be, our role when doing Market Value reports.

As I've stated before, the CA for our reports on std fannie/freddie forms is basically pure fiction, which is why they don't want it to be used to determine OMV in most cases.

But...some clients still insist that it be included. I just provide 'a number' based on the Building-Cost.net program.

 

[WMOORES]

M & S has a pay per use deal. It's $10 a pop. They've called a couple of times trying to get me to renew my Res Express subscription. I tell them it's not cost effective, given I seldom include the CA in my reports.