【正文】 Using pending or current listings as parables on the same grid will also be enlightening in some cases.68China Institute of Real Estate Appraisers and AgentsPart 5 Case Studies (optional)案例69China Institute of Real Estate Appraisers and AgentsCase Study 1 This data is sorted by the location in the building (view amenity). The units are all the same size. What is the trend in property values? Would a graph help illustrate this?70China Institute of Real Estate Appraisers and AgentsCase Study 1 Graph based on View Amenity71China Institute of Real Estate Appraisers and AgentsCase Study 2 – Assuming 6 months supply is standard, is this market oversupplied?72China Institute of Real Estate Appraisers and AgentsCase Study 3 – Sale and resale of the same properties. What is the market trend?Case Study 4 – Using the data provided what is the market trend?Case Study 4 – Analysis of DataCase Study 4 – Analysis of Data謝謝觀看 /歡迎下載BY FAITH I MEAN A VISION OF GOOD ONE CHERISHES AND THE ENTHUSIASM THAT PUSHES ONE TO SEEK ITS FULFILLMENT REGARDLESS OF OBSTACLES. BY FAITH I BY FAITH。 The best tool to deal with negative changes in the market is using current data and making no adjustments at all, although this is not always possible.167。 The fourth column shows the mean and median with all the sales at the high end.Analysis of the Mean or Median Sale Price67China Institute of Real Estate Appraisers and AgentsTools—Use Comparable Sales That Are Very Recent and No Adjustment Should Be Needed167。 The second column shows the mean and median when most sales are at the low end. 167。 it occurs because the lowerpriced homes are more negatively affected by higher interest rates. Page 56566China Institute of Real Estate Appraisers and Agents167。 Sometimes the average sale price in a market will rise when interest rates increase. 167。 The average sale price can be misleading if it is not interpreted correctly. 167。 The appraiser determines that the market is weak, but all the sales and resales indicate significant appreciation. 167。 The table on the next slide shows various items for consideration when using the sale and resale of the same property as an indication of market conditions.Tools—Analysis of a Sale, Resale of the Same PropertyPage 45762China Institute of Real Estate Appraisers and AgentsAnalysis of the Sale and Resale of the Same PropertyPage 45863China Institute of Real Estate Appraisers and Agents Slide Example—Analysis of Comparable Sales History167。 The sale and resale of the same property eliminates any locational difference.167。 A higher value conclusion could also be due to unrecognized functional problems, bias, or errors in the current cost or site value estimates. Tools—Comparing the Cost Approach to the Sales Comparison and Ine Capitalization Approaches61China Institute of Real Estate Appraisers and Agents Slide Fannie Mae requires a oneyear sales history for the subject prior to the effective date for the parable sales. USPAP requires a threeyear sales history.167。 Appraisers will find that the cost approach, after deducting only physical depreciation, shows a higher value indication than the sales parison approach.167。 It should also be pointed out that when concessions are more mon, the list to sale price ratio will be skewed. 167。 The final list price to sale price ratio seems quite reasonable, but that is because the list price was reduced so many times.167。 The fourth time, “Southlake” was listed as two words, “South Lake.”Page 45658China Institute of Real Estate Appraisers and Agents Slide The study of list price to sale price ratios can also be misleading. See Example. Tools—Using Days on Market (DOM) and List Price to Sale Price Ratio59China Institute of Real Estate Appraisers and Agents167。 The second time, the word “West” was abbreviated as “W.” 167。 The actual address of the property is 2929 West Southlake Boulevard. 167。 The subject is a very large home in a small town. It has been on the market for nearly three years, but appraisers who find the MLS listing page will think it has been only 45 days. 167。 The study of days on market (DOM) can be a good tool. 167。 The subject is located in a market where the following data was found in the MLS puter. The data alone would imply a change in market. 167。 Two more tools used by appraisers are days on market (DOM) and list price to sale price ratio for units sold in a specific market. 167。 In a market where this kind of data does not exist, the appraiser uses the data available and looks for trends after adjustments are made.167。 Notice the older sales indicate a higher value than the more recent parable 3. 167。 Another tool used by many appraisers to ensure they are aware of a decline in the market is including two or three