Appraisal Methods and Data Analysis

The video tutorial by Brandon covers the grouped data method, a technique appraisers use to determine potential adjustments for property features. The method involves categorizing properties into two groups and comparing their results. Examples include adjustments for swimming pools, bathrooms, and gross living area (GLA). The tutorial emphasizes the importance of using multiple methods to ensure reliable results, as some data sets may not provide useful insights. Brandon advises appraisers to experiment with different methods to find the most effective approach for their specific market and property features.

What is the primary purpose of the Grouped Data Method in appraisals?

• To create marketing strategies

• To sell more properties

• To calculate potential adjustments for property features

• To determine the exact value of a property

What is another name for the Grouped Data Method?

• Single Property Evaluation

• Market Comparison

• Aggregate Differences

• Paired Analysis

In the swimming pool example, how many properties had a pool?

• 15

• 18

• 12

• 10

What was the potential adjustment for a swimming pool using average price?

• $10,000

• $12,500

• $15,464

• $18,000

How is the median price adjustment calculated in the swimming pool example?

• By subtracting the median price of properties without a pool from those with a pool

• By adding the median prices of both groups

• By multiplying the median prices of both groups

• By dividing the median price of properties with a pool by those without

What is the price difference per square foot between properties with and without a pool?

• $8.00

• $5.00

• $6.26

• $7.50

What is the average GLA used in the price per square foot calculation?

• 1200

• 1300

• 1600

• 1498

Why is the Grouped Data Method not reliable for bathroom adjustments in the example?

• Lack of data for properties with no baths

• Inconsistent data for two full baths

• Too many properties with three full baths

• Only one property with three full baths

What is the range of price differences for bathroom adjustments in the broader neighborhood?

• -$45,000 to $107,000

• $20,000 to $60,000

• $10,000 to $50,000

• $30,000 to $70,000

How are properties grouped for GLA adjustments?

• By number of bedrooms

• By number of bathrooms

• By square footage range

• By lot size