Why can't we band together on Feb 4th?

[Digger88]

Are market values actually 22% higher than 12 months ago? Or is that just what the software is spitting out?

software. I tried Spark's dynamic market adjustment once it's a joke. +$60k on a townhouse sold 3 months ago going to have to see wth they're talking about before I use that.

 

[J Grant]

Software said it.

You are going to default to the software said it, but you have no idea if your actual market segment is doing it,,,,??




.

 

[OG80]

software. I tried Spark's dynamic market adjustment once it's a joke. +$60k on a townhouse sold 3 months ago going to have to see wth they're talking about before I

You are going to default to the software said it, but you have no idea if your actual market segment is doing it,,,,??




.

Where do you see 22% at? Sorry, not seeing it.

 

[Charles Drecksler]

What is the universally accepted definition of "comparable" that all appraisers, lenders, GSEs, and AMCs agree upon and rely on for every appraisal?

 

[Mejappz]

In February 2024, the price per square foot was $182.52, and by December 2024, it increased to $222.52, which represents an increase of about 22%. I assume December 2024 is the effective date of the appraisal.

 

[Fernando]

View attachment 96163
In February 2024, the price per square foot was $182.52, and by December 2024, it increased to $222.52, which represents an increase of about 22%. I assume December 2024 is the effective date of the appraisal.

View attachment 96164

The $/sf spread is very wide which indicate your sales may not be good comps? Garbage in, Garbage out.

 

[J Grant]

View attachment 96163
In February 2024, the price per square foot was $182.52, and by December 2024, it increased to $222.52, which represents an increase of about 22%. I assume December 2024 is the effective date of the appraisal.

View attachment 96164

Sale prices should determine a trend about prices, not price per sf.

 

[OG80]

Sale prices should determine a trend about prices, not price per sf.

Yes. Using the formula provided previously, it works out to a 5% increase in the previous 365 days.

 

[OG80]

You are going to default to the software said it, but you have no idea if your actual market segment is doing it,,,,??




.

S/W is new. Might have a bug.
Using the formula provided previously, it works out to a 5% increase in the previous 365 days.

 

[chad hampton]

There really aren’t enough sales of similar homes going on right now for charts and graphs to mean anything. Have to use your judgement as a professional with decades of experience.