Marshall & Swift Cost Estimator

[Renee Borne]

I have been looking at M&S Residential Express software for the cost approach for the new forms. Does anyone use it? How do you like it? Is it worth the $300+ price tag? Is there a better, cheaper alternative?

thanks,
rene

 

[Kate]

I love it. But to be honest I have nothing to compare it to b/c it is the only thing I have used. I do like it very much though.

 

[Jeff Horton]

I am a big fan because it removes the human error. Well most of it anyway. I think most Appraisers don't use the book correctly. And I find the book a pain to use anyway. The software does all the work for you except the Effective Age. Of course that is up to you to decide. The rest of it you just answer the questions about the house. I have used it in several reviews and almost everyone the Cost Approach was wrong. (Using their effective age).

I print it out and put it the report as backup. If I end up in court I can defend and show how I arrived at the cost approach so that anyone can understand it.

The down side is it doesn't have provisions for swimming pools, outbuilldings like barns etc. When I need that information for something like a farm, I just use the online version and pay the $3 they charge.

 

[Terrel L. Shields]

I quit M & S years ago after they bought out then screwed up Boeckh...I miss Boeckh...great program

I use R. S. Means and created my own spreadsheet to plug in the numbers. Supplement it with National Building Cost Manual. About time to place my pre-publication order.

 

[RHM]

For all practical purposes Marshall and Swift is virtually worthless here in the panhandle of Florida. There is a huge labor shortage here due to Ivan, Katrina and Rita. They have a location adjustment factor for .84 for the Pensacola area. Their rep called the other day and wanted me to re-subscribe. I told him the adjustment factor for Pensacola needed to be somewhere between 1.25 and 1.50 due to the shortages and I no longer needed his manual. He had no reply.

I do occasionally do some online work with MS if I have a commercial building. Anything other than that I now require a written builder quote. They have NOT kept up with the market here.

RM