Noob Questions pt.1

[Terrel L. Shields]

What are the best ways to go about documenting pairs saIes analysis?

Learn Excel or other spreadsheet - create a quickee pairing and select the table thus created, Copy (in Excel) save as picture. Save pix into your report workfile or into the report itself,. Or use sensitivity analysis (there are a number of them posted as spreadsheets here and in the 100% appraiser FB page. ...maybe on George Dell's website.

what point would you consider utilizing a market(time) adjustment?

Plot month by month. When seasonal sales usually jump in spring then level off in fall. You can do a bit of number crunching from the MLS data- most allow you to save as a spreadsheet file. I would adjust anytime the change exceeds say 2%...which might mean anything over 3 months old or perhaps only on sales over six months old. You are free to pick a time frame, but DOM is a starting point. If Days on market are 90 days, I'd look to see if I need to adjust. Care should be taken on shorter term adjustments as it might simply be statistical noise.

What date do you use for your cost approach effective date?

The date of appraisal.

BTW, M & S is saying building costs for buildings are up about 20% year to year, but that doesn't translate directly into prices overall. Not a good proxy for market conditions.

 

[ShortSeller]

Thank you everyone who replied and gave suggestions, I REALLY appreciate it!