1004 MC Help For Appraisers In Non-Disclosure States

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Comment by Dave Ehrnstein on March 29, 2009 at 11:09am

Non-disclosure states can be tough. Because of this, appraisers usually maintain their own database of comparable sales in their own work areas, or belong to private groups which share data.

The trick is to start with MLS data, and then add in all of your own data to get realistic results.

Maintain your data on an excel type spreadsheet, with the following meaningful data elements:

Address
Date of sale
Listing date
Status (active, under contract, sold)
Listing price
Sold Price (can be adjusted to net, if points or concessions are paid)
Seller concessions
Days on Market
Seller type (was it a foreclosure or REO?)

With this data, using a spreadsheet to sort the data and find your answers is easy and fast. I have a class on this, coming to many states this month (CO, NM, UT, ID, NV, AZ, TX, followed next month by OK, KS, MO, IO, IL, NB, SD).

I am also working on an e-book which will be available within about a week, from my website at www.appraisalmastery.com

Hope this helps!

Comment by Richard Ferris on March 27, 2009 at 5:09am

Hey Bill! I watched your video the other day - the new program looks very interesting!!