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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Accountant
  • Collegeville, PA
25
Votes |
105
Posts

Macros to make ARV analysis more efficient!

Account Closed
  • Accountant
  • Collegeville, PA
Posted

Hi Everyone -

In an effort to determine ARV on a potential fix and flip in an efficient manner, I've asked my r/e agents to send me data extracts from the MLS on the comps. This allows me to avoid manually typing in the information (sold price, concessions, beds, baths, sq ft etc.) for each property into excel. This has saved me significant amount of time.

What I would like to do now is create some sort of macro that can take such information and automate various formatting and calculation functions (based own my own assumptions) to calculate the ARV estimate (something similar to what an appraisal calculation would look like, where the address is presented horizontally, and the inputs vertically starting with the sale price and making adjustments between the subject property and the comps).

I tried doing the "Record Macro" function in excel but Excel gets confused easily. For example, the macro was built recording an analysis I did with 4 comps. If I try to use the macro for an analysis with 5 comps, it doesn't pick up the extra comp. 

Is there any kind of (legitimate) add-in that can do the above? If not, are there any programmers out there that could assist me?

Any assistance would be greatly appreciated.

Thanks!

Most Popular Reply

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Mike H.
  • Rental Property Investor
  • Manteno, IL
2,112
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2,213
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Mike H.
  • Rental Property Investor
  • Manteno, IL
Replied

@Tom La Rosa

Just sent George the excel file.
Here is a quick definition of what the spreadsheet does.  Its a quick and dirty first pass that could easily be modified based on someone's specific needs.

As it is, it allows users to play with variables to decide which comps to pull: i.e. +/- square footage, +/- bedroom count, +/- age of home.

It also allows the user to change the adjustment prices for things like a bedroom, bathroom, garage, basement, etc.

Here are the specs if you will of what you need to enter and what you can play with. And, of course, what the app will return:


Subject Property Fields that must be entered
Year built
Square footage
"Bedroom Count"
"Bathroom Count"
"Garage (0, 1, or 2)"
Basement (Y, N, F)

Variables that can be set to pull comps against

+/- years built
+/- square footage
+/ bedroom count

Dollar adjustments that can be set for comp vs subject
per sq ft difference
1 bedroom difference
Per bath difference. Accounts for 1/2 bath differences as well.
Per 1 car garage difference. Accounts for no garage as well. i.e. 2 car versus 0 is twice the adjustment amount.
Basement Yes versus No. Basement adjustments are cumulative. Y or N is one adjustment. F or N is a second adjustment
"Additional: basement Finished vs Not Finished"
Days on Market over > 60. These DOM adjustments are separate.If over 60 and less than 101, then do the 1st. If over 100, apply the second.
Days on Market over >100

Comp Data
Address:
Year Built
Square footage
"Bedroom Count"
"Bathroom Count"
"Garage (0, 1, or 2)"
Basement (Y, N, F)
Sold Date
Concessions
Actual SOLD PRICE
DOM
"Calculated amount used for estimate (includes the adjustments)"

Application Returns the following to the USER
1. Estimated appraisal
2. Number of comps used
3. Avg square footage of comps used
4. And it highlights each row/comp that was selected

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