Market Stats - Any Experts?

[Hank Outlaw]

Hello,

I'm sure this topic is already on the forum. I've searched under spreadsheet and stats, but I'm looking for the "Market Stats - Analysis & Reporting for Dummies" version... plain and simple (if possible) pointers / advice on how to better report what is going on in the market and import the data into the URAR (or other form report). The most time consuming stage of completing each assignment (for me) is usually the market analysis, looking for trends and providing data to support my analysis. Is there a way to utilize Excel or some other program to report the data and import it into the appraisal? As far as I know, I would use Excel (still have much to learn on that), print as a pdf or "Snag-it" and paste it into an exhibit page in the appraisal report. I've assisted a commercial appraiser with a few reports recently and he does a bang-up job with tables, charts, graphs, etc. in his narrative commercial reports. I would like to improve my residential work in that area.

Any comments, advice, etc. would be greatly appreciated. For all you pros on stats, I would appreciate any resources for improving in this area.

Thanks,

Hank O.

 

[Thomas N. Morgan]

I, too, find it to be very time-consuming. So much so that I do a formal market study only when it real serves an important purpose. It's one thing to look at MLS closed sales, listings, sales date from other sources and get a feel for what's going on. I do that, routinely. It's quite another to import data and produce tables, charts and graphs worthy of including in an appraisal report. Rarely is that feasible in a residential report.

 

[Tom Barclay]

I don't think you can find any better than this.

http://appraisersforum.com/showthread.php?t=96025&highlight=Tawfik

 

[Kali the Boston Terrier]

I use an excel based spreadsheet and then fill in the blanks in my narrative. You can download my simple version of of my website http://www.kresinc.com/Appraiserdownloads

 

[Ms. Janet]

How nice of you to share that Brian!

 

[Nevermind 3]

As Janet said, ... Brian, thank you for sharing that.

I am attaching a market analysis I use on my reports. I have an excel template I use, but I am attaching the pdf version. I go back 5 or 6 quarters and report median sales prices and Days on market for each quarter, based on the specific neighborhood boundaries or somewhat larger, if I need more data. Then there is a chart of the median sales prices, along with a brief summary. It isn't perfect, and I know it could use some refining and altering, but, I set it up fairly quickly and it allows me to make some conclusions, based on actual data.

I am open to anyone's critique and helpful advice on it.

 

[The Bob]

Nevermind

Very good work. I would only caution that what you are really measuring is "prices", which may or not be correlated to "values". Instead of just useing price, why filter your data so that you are measuring the same type of house over time. You could filter on age, design, GLA, quality etc...In an expanding market, it is not unusual to see more and larger, better quality custom homes being built. In a declining market you see the reverse, so any measure of "prices" will look like an increase in the former and a decrease in the latter. Not sayng you market is not declining, just thought I would point that out.

 

[Hall McClenahan]

I have a eight sheet Excel template that I set up. I snag all the data for an area and paste it on what is named Raw Data.

I then use the Data Filter to select the subject specific comparables and cut and paste to Sheet Two.

The market stats and charts have automated from that sheet and the connecting sheets used to separate areas of comparison.

example: Sheet three automatically copys and pastes GLA and Sales price, figures the price per sq foot and populates a chart so named. Page four automatically copies and pastes Listing Date, sales date, Original Listing price, Sales Price, PSF from page three and Address. It automatically populates charts that compare listing vs sales price, DOM, Sales history time lines, and price per street for locations.


Everything I like to look at has a page and macros to automate it. Charts are produced automatically. The key is taking the time to set it up. After that every adjustment is there as long as there is data to extract it from.

I can produce what appears to be an in-depth market study report in the time it takes you to read this post. Excel is such a cool program!!!!!! Learn it and your original question will be answered.

 

[Kali the Boston Terrier]

Hall:

I would love to see a copy of that spreadsheet.

I've been trying to get excel to take a raw set of set data, and organize it in months Jan '08 and from that organization take median price, median $/SF, median DOm for each month, and best of yet a count. Problem is I can do that if I organize the data manually by sorting and filtering, however I would ike to set up a blank excel template that I just import raw data into and it does all the leg work...any thoughts?

I've tried pivot tables, but have not tried macros yet. I'm sure there is an easy answer, but I have been so busy the last year that I lack the time to even tinker.

 

[Thomas N. Morgan]

Nevermind3

How did you produce such a great looking chart? The ones I can produce with Open Office 4 look very plain. I can make a much better-looking one using an old DOS program, PFS First Choice.

I make one chart like yours, that merely shows sales volume over time. Another will show prices over time for homes like the subject.

Your trend line looks just like the one I recently made for Ocala and Marion County, FL. We took a sharp fall 1st Qtr of 2008, then jumped up some for 2nd Qtr., 2008.

Tom