The Student Handbook to T HE A PPRAISAL OF R EAL E STATE 1 Chapter 8 Data Collection

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 2 Types of Data General data  Economic trends International economic trends National and regional economic trends Local economic considerations Trends affecting rural land  Social trends (demographics)  Government regulations  Trends in building activity  Taxes  Financing

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 3 Types of Data, continued Specific data  Competitive supply inventory  Demand study Data sampling

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Data Collection Sources of general data Sources of specific data  Public records  Listings and offerings  Multiple listing services  National property databases  Published news  Market participants Sources of competitive supply and demand data Chapter 8 4

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 5 U.S. Census Bureau Population Data by State

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 6 Sample of School Statistics Available on the U.S. Census Bureau Web site

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 7 Data Collection, continued Real Estate Transaction Standard (RETS) and data standards Geographic information systems (GIS) and Topographical Integrated Geographic Encoding and Reference (TIGER) Selecting comparable data and establishing comparability

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 8 Data Organization Units of comparison  Price per square foot of gross living area  Price per acre  Price per front foot on the lake

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 9 Grid Analysis Example Common Residential Sales Grid

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 10

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 11 Graphic Analysis

Student Handbook to T HE A PPRAISAL OF R EAL E STATE Chapter 8 12 Suggested solutions begin on page 419.