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Sequential Order Of Adjustments On The Grid

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Valueseeker

Junior Member
Joined
May 19, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
Hello all,

I looked through the forums and couldnt find an answer to this.
Basically I just wanted to get a feel as to the general sequence of how appraisers are adjusting on the grid. I'm not speaking to percentage adjustments. I am aware that if you are just making dollar adjustments, it doesn't matter if you do a sq.ft adjustment first or last, but I'm trying to adapt good practice.

So if you are strictly(hypothetically if you will) doing dollar adjustments are you going straight down the grid (concessions, date of sale, location, site, view, style, age, condition, rooms, sq.ft.etc)? Or do you find that tackling it another sequence offers a clearer perspective on what to adjust for?

Thank you all in advance :)
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
If you look at the URAR grid, the sequence is pretty much the primary sequence. Terms, time, location site differences, improvement differences. Now the adjustments should always be market tested. For example the SF adjustment may be $30 SF on one type of house/neighborhood, $70 on another. Same with bath contributory value, site differential, etc.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
After concession and financing adjustments , which are always done first. Imo it should be in order what yields most credible assignment results when making physical characteristics adjustments.

I generally like to make the "easy" adjustments first....such as for bath count, pool, sf, garage, pool etc. I might revisit any of them later, but need to put them on the grid because doing so then isolates the harder, or more variable adjustments left to make. Such as for a more difficult factor as an adverse view, or superior location, or much larger lot than typical. It is much easier to isolate an approximate amount for the hard to make adjustments after the easier ones are made. I then look at the grid, at that point it might become apparent another comp is needed. I might stop to do more research if one adjustment seems very "off".

After that I might revisit any adjustments and if changing one or two of them, such as $ per sf, brings the adjusted comp range closer to together, that applied line item sensitivity to that adjustment. Thare comes a point where the adjusted values are what they are and not all ranges are ultra narrow.
 
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