Rapid Response: Market Analysis in Volatile Markets
COVID-19 has had significant impacts on the economy. Businesses have either cut back or temporarily closed, employees have been laid off, businesses are filing for bankruptcy, employees are working remotely, commercial activities, real estate and other non-residential activities are making plans for a recession.
While the housing market is still strong, that could change overnight. The market is too dynamic now to rely on monthly, quarterly, or annual sales reports to support opinions on market health. This 7-hour seminar will show you how to locate contemporary data for your clients and will show you how to rapidly and accurately read and report on market changes.
- Discover why market value appraisals should include a market analysis.
- Learn how to quickly extract, compile, analyze, and present data so that the intended user can understand it.
- Learn how to be consistent with all parts of the report.
- Recognize the terms appraisers commonly use in market analysis reports.
- Understand why market in the term “market value” is required.
- Recognize the concepts that will help differentiate between a neighborhood and a market.
- Identify the pros and cons of various tools used by residential appraisers for market analysis.
- Become familiar with statistical tools to support your opinion of market supply and demand as well as highest and best use.
- Become familiar with local, statewide, regional, and national databases that will help you analyze supply and demand.
Cheryl Kunzler, SRA, AI-RRS