Real Estate Appraisal Methods in NCSS

Introduction

NCSS has three procedures that were developed just for appraisal work. These are the Comparables procedure, the Sales Ratio procedure, and the Hybrid (Feedback) Model procedure. In addition to the common descriptive statistics, NCSS also provides statistics that are of particular interest to appraisers. These include the coefficient of dispersion (COD), the weighted mean (W Mean), and the price related differential (PRD). These values are provided in useful report formats that break the results down by several category variables such as neighborhood and/or property type.

Sales Ratio Reports
NCSS has a Sales Ratio procedure that automatically provides the specialized statistics used in appraisal. The output includes the mean, median, weighted mean (W Mean), coefficient of dispersion (COD), and price related differential (PRD). These statistics may be broken down by category variables such as property type and/or neighborhood.

Comparables Reports
NCSS has a Comparables procedure that uses special computer algorithms to find a set of comparables for a subject property, adjust their sales prices appropriately, and output a report that summarizes results for a few of the closest properties. You have complete control over which variables are used and how market value adjustments are applied.

Hybrid Appraisal Model
NCSS has a Nonlinear Regression procedure that lets you apply special multiplicative-adjustment models. It also has an easy-to-use implementation of the Hybrid Appraisal Model designed specifically for appraisal work.

Features