Vanguard Appraisals, Inc. Sales Ratio

Transcription

1 Vanguard Appraisals, Inc. Sales Ratio Start by clicking on the Sales Ratio button in the main menu. Then click on the Sales Ratio Analysis button. That will bring up the screen below. Please read the information and then click the Next button.

2 Sale Data Entry The most important part of a sales study is that the sales information is entered correctly. To enter sales information first click on the ADD button as seen below. Then enter the date of the sale, the amount of the sale, PP Value if any and in the VCS Value field you want the value of the property on the date of the sale. If this is a first time entry you will need the value off of your PRC not the value that is in VCS. You then select the Sale Type (Deed or Contract), then enter the Recording information (Book & Page) and DOV/CRV information. Next you can enter the listing amount and date. When entering the NUTC code be sure to code sales such as Vacant Land as code 034 so that you can analyze them separately from your Normal Arms-Length Sales. Same thing with Manufactured Homes code them correctly. Next you can enter Remarks, Seller and Buyer. The sellers name is automatically brought forward from the deed holder s field on the general screen. So when you do enter sales you should first enter the sales information and then change the names on the general screen. There is also the new Copy Buyer function button in the tool bar. To start a Sales Ratio Study you first need to answer the following questions. 1. Have you reviewed all of your sales that you are using for the study? 2. Have you checked for correct listing information at the time of the sale? 3. Has the sale information been verified as an arms length sale? 4. Is the land value correct? (If not you should start by doing a vacant land or land ratio study.) 5. Have you Copied Main Tables to Test Tables. If you have answered yes to all the above questions you are ready to start your study. If not, your results my not be a true picture of your local market and can throw off your final results. Page 1

3 Sales Study: Start by clicking on the Sales button on the main menu screen as seen below. 1. Select New Study, Load Study or Save As by clicking on the correct button. 2. In a New Study type the description of the study in the remarks section. 3. Enter the dates for the study. Page 2

4 1a. Choose PDF s: Click on the Select PDF button and then select the PDF that you want your sales to come from, then click the OK button. If you choose all PDF s you will be able to sort the parcels that you want to use in a study but to save time it is better to choose just the PDF s that you want for each study. 1b. Choose Map Areas & Sub-divisions: Click on Map Area & Sub-divisions button and select the map areas and sub-divisions that you wish to study and then click OK. Again you can select all map areas and subdivisions then you will be able to edit your selection when running the analyze part of the study, but it will save you time if you choose only the map areas that you are wanting in the study. Page 3

5 1c. Choose Set NUTC s: After clicking on the NUTC Codes button select the code that you wish to use in your study. You can select one or more codes for each study, then click the OK button. The normal code being selected is Code 000-Normal Arms-Length Transaction. 1d. Get Sales: Now click on the Get Sales button so that the computer can get the sales that you have asked for in your study by date of sale, nutc code and type of parcels. The time that this will take depends on the number of parcels in the system and the speed of your computer and or network. You can watch the progress of the system on your screen as it processes. When it is done getting sales you are ready to prepare them. Page 4

6 2. Prepare Sales Screen: The prepare screen is used to recalculate the values of the parcels that have sold and get them ready to analyze. Your first sales study will be with the Working Main Tables to find out where your ratios are at the present time and what you need to do to correct them. First check Appraised Values or Current Values in the Value Source area on the screen. Appraised Value is the value calculated by the listing information entered into VCS. You will be using appraised values for 99% of your studies. Current Value is the value given to the parcel by the Board or State. Next select the Test Tables or Main Tables under the type of parcel you are analyzing. As I said earlier, you will always start with the working main tables. After you have checked the correct value source and tables you then click on the Prepare button. After it has finished the prepare operation, click the Next Button to analyze your values. Analyze: You now click on the Query button. This brings us to step 3, analyzing sales with the query wizard. After clicking the Query button you then select the correct query report for the type of study that you wish to run by clicking on the open folder in the tools bar. This brings up the list of standard query reports that are in the program. The basic query report is labeled Slsratio.slr, which is the basic sales ratio query. Click on the correct report and then click the Open button. After you have queried the parcel that you want to analyze then select the reports that you wish to look at and click the Report button. See the list below. Run all of the reports just not one or two. The more information that you have the better results you will have. The following screens are to show you what the reports look like and that you will then need to return to the Prepare screen and edit the test tables by clicking on the Edit Tables button on the Prepare Screen. Page 5

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11 Multiple Parcel Sales When entering the sale you need to check the box if it is a multiple parcel sale. You can not stratify the data but you can create an overall good ratio and array it with the rest of the sale in that location and timeframe. After checking the box find the other parcels include in the sale and code it as needed. Either 000 Arms Length Transaction or 043 Sale of Two or More Separately Assessed Parcels - Single Consideration. Page 10

12 After you have entered in the multiple parcel sales information you then need to click the Copy Total value and answer Yes to the pop up. Now when you run a sales ratio study you will need to check the box labeled Include Multiple Parcel Sales. Page 11

13 This will allow Multiple Parcel Sales to be on the Sales Array report with an * beside it show that it is a Multiple Parcel Sale. Page 12