The best thing that ever happened to appraisers for assistance in writing up reports. No longer do I have to hassle with the 1004MC form, look up doc#s, MLS#s, etc. DataMaster does the menial work for me reliably so I can concentrate on the important things, like value.”. Anow is the smartest and most efficient way to manage your real estate appraisal office. Join appraisers from around the world who trust Anow to manage and grow their business. We're the most compehensive, yet easy to use real estate appraisal office management software. From solo appraisers to large teams, Anow is for every appraisal business. ACI is the appraiser's choice for real estate appraisal software solutions. With over 30 years of industry experience, we have all the tools you need to expedite fully compliant appraisals.
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Sep 17,2019 • Filed to: Real Estate • Proven solutions
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Ten Mobile Apps for Appraisers. Total allows me to sync my appraisal report from the office, input my data, sketch, and photos in the field, and remotely upload it back to the office seamlessly. By the time I drive to the office, that report is ready for me to start making adjustments. For the busy appraiser, mobile appraisal apps are an essential tool in the box. Software Package 2: HomePuter® has been programming Stepwise Multiple Regression Analysis based Real Estate Appraisal Software for over 37 years and is an expert in this field. The HomePuter® DMS 2.4 includes software for Real Estate Market Valuation by Sales Comparison Approach to value, for individual (professional appraisers) or mass.
The business of real estate involves a number of professional activities. One of these is appraisal. This is the determination of the current market value of a particular asset. Appraisal is often done before sale or when a property is about to be used as collateral. While this process was initially performed manually, today there are software tools which are specifically designed for appraisal purposes. By using real estate appraisal software, the process is performed quicker and more accurately. This results in faster processing of property sales and purchases. As such, real estate appraisal software is highly valuable for modern real estate agents.
LAND APPRAISAL REPORT File No. IDENTIFICATION Borrower Census Tract Map Reference. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar. Form LND — 'WinTOTAL' appraisal software by a la mode, inc.
Top 5 Best Real Estate Appraisal Software Reviews
Here are top 5 real estate appraisal software reviews:
1. HouseCanary
This special software tool is based online and delivers accurate, quick and data-powered analytics. HouseCanary performs hybrid appraisals empowered by advanced strategies. In addition to that, the digital tool's processes are all compliant with USPAP standards. A great feature is that it supports integration with 3rd party software tools which increase speed and reduce the cost of operation. By combining data and analysis, HouseCanary is a reliable method of appraisal that can effectively replace traditional BP05, 1004s and 2055 procedures. This software tool implements professional appraisers who provide real estate professionals with quick results and no revision requests. Furthermore, it is agile and versatile. Hence, this real estate appraisal software can also be used by various parties such as lenders, capital markets operators and the proprietors of single-family rental houses.
Pros
- The software performs compliant appraisals
- It supports integration with 3rd party digital tools
- This tool relies on the skills and techniques of professional real estate professionals
- It is versatile
Cons
- It does not offer free access through a demo account
2. ValueLink
This software is specially built for real estate agents. Seeing as it is supremely versatile, ValueLink can be used for both residential and commercial real estate appraisal. It is also capable of being used by different types of professionals for example lenders, managers and Appraisal Management Companies (AMCs). ValueLink is based on Cloud architecture and is accessible through an online portal. Hence, it can be used to track appraisal orders and other details from any location in the world. Moreover, you can access it from your computer, smartphone or tablet. This real estate appraisal software is highly flexible. As such, it can be adjusted to fit your business goals. You can access its features through a demo account.
Pros
![Appraisal Appraisal](/uploads/1/2/6/8/126888249/812557067.png)
- It is versatile and can handle both residential and commercial appraisal
- This software is useful to many different professionals
- It is based on Cloud architecture hence is easily accessible
Cons
- Its trial period is short
3. SFREP
Designed for professionals in the real estate industry, this software tool enables you to perform quick and professional appraisals. SFREP software has built-in tools which can create flood maps for demographic analysis. It can also analyze the market by automatically filling in the 1004MC data grid for you In addition to that, the SFREP software is capable of including accurate charts and additions into your appraisal reports. For cost analysis, the digital tool relies on the highly reputable Marshall 8 Swift. The software also considers comparable properties and includes their history in your appraisal report. Comprehensive and capable, this digital tool is ideal for every real estate agent.
Pros
- This software has tools built into it
- It automates the most strategic activities involved in appraisal
- The software relies on highly reputable sources for cost analysis
- It provides a comprehensive appraisal report
Cons
- It is not available for free through a demo account
4. A la mode
With a variety of capabilities built into it, this appraisal software guarantees professional results every time A la mode can fill in forms automatically, develop flood maps and operate on Cloud architecture. The software can also present you with detailed analytics and compile comprehensive reports for your appraisal needs. A la mode features integrated software such as Titan Analytics and Vault. As a result, it compiles 1004MC reports swiftly and stores your appraisal data securely. For maximized efficiency, A la mode responds to a variety of operational features such as shortcuts for data entry, the reuse of compilations and the ability to spread appraisal information across multiple screens. As such, this is one of the most popular appraisal softwares today. You can try it out as a free real estate appraisal software through a limited trial.
Pros
- It delivers professional results
- This software can perform multiple appraisal activities automatically
- It can deliver compliant reports
- You can use it for free through a trial
Cons
- It is expensive to maintain beyond the trial period
5. ACI Analytics
Capable of working in form of a suite, this software is ideal for appraisal purposes. ACI Analytics is capable of performing research-driven analytics. In addition to that, it contains a built-in listing database. This makes it easier for you to perform comparable property cost analysis. By using the software you can inspect property, perform research and make reports. In addition to that, you can use ACI Analytics to review the resultant reports and deliver strategic information. Overall, it has tools that you can use to manage the data presented in the reports. The best feature of this software is that it can be integrated with other digital tools so as to extend its capability.
Pros
- It performs deep research for appraisal
- This software has a database that contains property listings
- It can still perform automatic reporting
- Appraisers can use it to manage report data
- It can be integrated with other tools
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Cons
- It is not available for free through a trial demo
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Download ACI >> Prior to any real estate transaction, it is important to know and understand the value of the assets involved. According to real estate appraisal software narrative 1, the software tools above can be used to identify this element. They are accurate, dependable and extensible as well.
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The Sales Comparison Approach compares recently-sold local similar properties to the subject property. Price adjustments are made for differences in the comparable and subject property.
The sales comparison approach is the foundation for the real estate professional's CMA, Comparative Market Analysis. It is a process used to determine the current market value of a property based on recent sales of comparable properties in the area. The calculation's results are used to help a home seller listing client to decide on the price at which to list their property.
Real estate professionals also use a CMA process to help buyers to determine if a home's price is fair and in line with current market activity. The agent, if being thorough will do two of them, one using recently sold properties and another using currently listed properties and using their list prices. That's because markets are constantly changing, and they want to see the currently listed comparable properties that are the competition. Based on the current inventory and demand, there could be a reason to lower or raise the listing price determined in the sold properties CMA.
The CMA Process
There is a structured process in doing a CMA, and there are some important basic requirements:
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- Comparable properties selected should be as similar to the subject property as possible:
- number of bedrooms
- number of baths
- square footage size
- lot size
- The comparable properties should be as nearby as possible, in the same neighborhood or subdivision is best.
- Their sales date should be as recent as possible. If comps' (comparables') sold dates are too far in the past, they're already too old to be accurate for the current market. If there aren't enough close-by properties for comps, then moving a little farther out in distance is necessary.
So, with that in mind, let's look at an overview example of a simple CMA.
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- We have our subject property, a 3 BR, 2 BA home 1900 square feet in size with a two car attached garage.
- The home is on a standard subdivision lot very similar in size to all others.
- Three comparable homes were found in the same subdivision.
- Two of the homes were very close, with the same bedrooms, baths, and garages.
- One home had an extra bedroom and half-bath. The sold price of that home was reduced by the new construction value of a bedroom and half-bath to make it similar to our subject property.
- The square footage of the homes was close but not exact. So, the three comps' prices each were divided by their respective square foot size to get a sold price per sq ft. Those were averaged to one number.
- That number was multiplied by the 1,900 sq feet of the subject property to determine its approximate value in the current market.
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Now, for the seller and the real estate professional, this is usually as far as they go. However, I would suggest another market analysis to see the current competition, as I would be doing for a buyer. Another CMA is done in pretty much the same way. However, now we find three comps that are for sale and use their listing prices.
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This example market has been pretty busy, and there have been more sales than new listings in the recent few weeks. The current inventory of homes for sale is lower, and the listing prices of our three comps indicate that the listing price estimate from the regular CMA can be increased. We stay on the low end of the competitive homes' prices for a sales advantage and go to market.
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So, what's different in these processes and an appraisal? The appraiser uses comps as well, maybe the same comps. However, the appraiser is usually working for the lender, so their job is different. The real estate professional wants to get the highest price possible for their seller. The appraiser wants a value that covers the lender's investment but isn't inflated.