Market Stats - Any Experts?

[Jeff Horton]

Like others it's pretty simple once you get the hang of Excel. I chart the market every month and use the charts for a Email newsletter to advertise with.

Our MLS has statistics available in it but they are intuitive. The data is there, I just take their charts, paste the numbers in Excel and let it create the pretty charts and trend lines that help it make sense.

Here are a couple of the charts I keep.

 

[Rancid13]

Here is my simple version (no charts, just #'s and %'s) of a quarterly stats sheet done in Excel that we include on all relocation and REO appraisals as well as whenever applicable to provide relevant information on lender-involved appraisals. My boss attended a seminar recently where he was shown how to incorporate the data directly from the MLS source into the spreadsheet, I'm very interested in learning this as it will be a savings of time and help maintain accuracy.

The top half of the spreadsheet is macro data, and the bottom portion is micro (more fine-tuned to the specific property type/location/etc being appraised).

 

[timd354]

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.

Your market analysis is very nice work - I really like the chart. That being said I disagree about one conclusion in your analsysis....that being that a time adjustment is to be made to sales over 90 days old to reflect deceasing values. It seems to me that the data provided regarding sales between 90-180 days old would not warrant a downward time adjustment since the median sales price actually increased from the first quarter of 2008 to the seond quarter of 2008. Your data certainly does not support an adjustment of 0.7% per month for sales that are 90-180 days old and applying an unsupported adjustment would cause an erroneous result in my opinion.

I would agree that a downward time adjustment (I prefer the term market conditions adjustment) would be approriate for comparable sales older than 180 days.

 

[Elliott]

timd said, I would agree that a downward time adjustment (I prefer the term market conditions adjustment) would be approriate for comparable sales older than 180 days.

And you shouldn't be using six month old sales in such a market. Just use the
most current and similar. I don't think appraising is so accurate that you can
use 'old' data or 'trend' data. Six month old sales are great for retrospective
appraisals.

 

[TheGraphGuy com]

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.

Hank, if you get this before the morning,
We are doing the last installment of the Graphing series tomorrow free on alamode, inc. Its free to anyone (alamode user or not) http://www.alamode.com/alashopping/shopevent/Schedules.aspx?eid=544

Anthony Young, SCREA
State Certified Real Estate Appraiser
www.TheGraphGuy.com

Affiliate Member, Real Estate Appraisers Association (REAA)
Associate Member, Appraisal Institute (AI)

 

[TheGraphGuy com]

Anthony's DVD is great "The nuts & Bolts of Spreadsheets.." is an excellent learning tool and resource. I'd highly recommend it to both novice and expert.

George Dodd,

Good evening. I just joined this forum today as I got a call yesterday about your kind words. Thank you very much. I am very happy to hear that the DVD course has helped you out a little. Not sure if you are aware, but, I am doing a FREE pivot table graphs webinar august 6th in the morning (tomorrow) that is being sponsor by alamode, inc and is open to all appraisers no matter what software you use.

George, Send me an email offline I have some great news for you! (private email: graphthetrend@yahoo.com )

If you want to join in the FREE webinar it will be at 8am (California time) and 10 am (central time) The link is below.
http://www.alamode.com/alashopping/shopevent/Schedules.aspx?eid=544
or Click here

NOTE TO MODERATORS: Please email me if it is not acceptable to let people know about free offerings so I do not break any forum rules. Thank you.

Anthony Young, SCREA
State Certified Real Estate Appraiser
www.TheGraphGuy.com
Affiliate Member, Real Estate Appraisers Association (REAA)
Associate Member, Appraisal Institute (AI)