Land and Improved Sales Grids


Important: Do not delete rows or columns on the analysis grid worksheets

Topics

Adjustment Grid Features & Capabilities
Since the Land and Improved Sales grids are almost identical, both will be described here. Lease grids are also very similar, but have different summary tables for multifamily rent comps, and are discussed separately.

The database tools are also located on the analysis grid worksheets, but a separate help section is dedicated to the database.
  • Analyze up to 10 comparables
  • Analyze price or unit price (lease grids only analyze the rental amount)
  • Adjust by percent or dollar amounts
  • Flexible and customizable adjustment categories which auto-fill from the property description and database
  • Net and gross adjustments display
  • Values ranges and reconciled value summary
  • Customizable summary table
  • Customizable multi-use table (Sales grid sheet only).
  • Customizable comp sheets that automatically populate from the database
  • Utility to save the subject as a database record
Top

Worksheet Layout
There are several tables on each analysis grid worksheet, outlined on the graphic below:


Top

Entering Subject Data
Subject data is automatically pulled from the Site and Improvement Description worksheets. The analysis can be performed on any or all parcels, any or all buildings. One parcel or building can be chosen from the drop-down in the upper left section of the Analysis Grid. If All is chosen, totals are used for numeric data, and Parcel 1 descriptions are used for text fields.

The subject data is shown in the subject column of the analysis grid. Fields for analysis are shown in the table These may be changed by selecting a field from the drop-down after clicking in the cell to be changed. Note that drop-down lists are optional; data can be entered directly to the cell (you may need to unprotect the sheet).



  Top

Entering Comp Data
Comparables are selected from the database by using the Comp Manager. The Comp Manager can be started by clicking on the Comps Database button at the top of the worksheet. The Comp Manager can also be reached from the Go to... drop-down at the top of each table on this sheet.



Once the Comp Manager comes up, chose the Search tab to enter criteria for finding comps, and selecting the comps to be used. For more detail see the Database Tools help section. When comps have been selected, click Add Comps or Replace Comps to update the grid comp columns with data from the selected comps.

The Comp Manager is also used to enter new comps, and/or update comps. For more detail see the Database Tools help section.

The Comp Manager also allows deletion of Comps. For more detail see the Database Tools help section.

Top

Populating Adjustment Grid Comps, Summary Table and Comp Sheets
After clicking the Add or Replace button on the Comp Manager, the Arrange Comps form is displayed. Here Comps can be organized for display, even allowing Comps to be deleted from the proposed selection list (not from the database!).


Click Close to return to the grid.
For more details see See Database Help.



The Arrange Comps form can also be reached from the Arrange Comps button at the top of the worksheet.



Top

Price Adjustment
To allow for a price adjustment, click on the 'Show Price Adj.' button. Additional Price Adjustment and Adjusted Price rows are displayed.



Top

Setting the Unit of Comparison (UOC)
Adjustments can be made to the sale price or unit price by selecting the Unit of Comparison (UOC) from the drop-down list located at the upper-left corner of the sales grid worksheet. There are two options.
  1. Price/Unit
  2. Price


 Top

Selecting the Type of Unit Price
In the subject column there is a drop-down list with common units of comparison; select a UOC from this list. Note these can be changed by modifying the drop-down list. (Right-click and select lists, then select the Unit Type list or Rent Type list). The Unit Type or Rent Type must be one of the database fields

  Top

Making Adjustments
Property Rights, Financing and Conditions of Sale are percentage adjustments made on a cumulative basis. The Market Trends (time) adjustment calculates automatically based on the annual percentage amount entered in the subject column (see image). Note this is a compound adjustment, not straight-line. With the 5/8/09 release, there are two market trends adjustments available to address different trends that may affect a sale price over time.

The percentage figure shown for the comparables calculates automatically and shows the total percentage applied.

This screen shot displays the Subsequent Trends adjustment, activated by clicking the + sign button above.



There are twelve remaining adjustment rows that can accommodate dollar or percentage adjustments. Six adjustment rows are displayed and five more are hidden in rows 52-76. To unhide, unprotect the worksheet, select rows 51-77, right click and select unhide.



By default, adjustments are set to percentage with corresponding dollar amounts in the row below.

By tradition, the first adjustment is location. The remaining adjustment descriptors will (optionally) auto-fill via the selection in the drop-down list located in the first column of the grid. The list contains all the items in the comps database. Using database fields for adjustment categories is optional; simply unprotect the worksheet and over-write the formulas.

Depending on the type of adjustment, the cells may need to be formatted.
Tip: Select the entire row, then format.

Top

Change Adjustment Format from Percent to Dollar
Unprotect the worksheet
  1. Enter 0 in the "% Adjustment" cell for each comparable.
  2. Hide the percent adjustment row.
  3. Enter the dollar amount in the "$ Adjustment" cell for each comparable. (This will over-write the percent formula.)
Top

Ranges and Reconciled Values
The adjusted values are displayed at the bottom of the grid, along with net and gross adjustment amounts.

The reconciled unit value is then multiplied by the subject area, and the final value rounded by hand.

This table is not linked to the Word because of color coded data entries and the differences in format when a full price is being analyzed rather than a unit value. In order to produce a more flexible system, we have linked the individual values to Word, where they can be deleted if not applicable for the analysis at hand.


Top

Comparables Summary Table
The summary table will automatically display the comparables selected for analysis. The summary table has up to 15 columns that can be displayed; toggle the table display with the Show Rows/Columns button. Each column displays the data selected in the column header.

The table can be formatted to display one or two rows of data for each property and optionally, subject data can also be displayed. 



  Top

Multi-Use Table
This table is designed to handle a wide variety of user-designed subject and comparable data displays and calculations. It's a huge table, with 50 rows and 51 columns (up to four columns for the subject and each comparable). The large scale is intended to facilitate vertical and horizontal design flexibility, where the user can hide unused rows and columns. For example, some table designs might only use 10 rows and two columns for the subject and comparables. Other table designs might use 30 rows and one column for the subject and comparables. In addition, there are extra columns at the right side of the table for user-defined row calculations (see Tax table example below).

This table can be used to display tax comparables, expense comparables, cost comparables, etc.

In the example below, the design uses seven rows and two columns for the subject and comparables. A user-defined formula was entered in column two (expenses per square foot) and a text entry has been made in column three ($/SF).


Top

Comp Detail Pages
The following shows the upper portion of the Comp1 detail page. This section holds the (optional) image of the property. Some fields may be empty. The selection for the filler of empty fields is also here.



Customize Comp Sheet Displays
Edits are made to comp 1 only; comps 2 through 10 will display the same data. To make these changes available to all future projects, make these changes to the template.
  1. Click on the data header to activate the drop-down list.
  2. Select the data item to display, or leave bank.

Top

Using Comp Fields
Comp Fields offers an additional method of displaying Comp data. Comp Fields captures each individual piece of comp information for each comparable and displays it as a field in Word. This differs from Comp Sheets, where each comp is displayed as a table in Excel, then merged in Word as a table. Comp Fields and Comp Sheets sheets can be used together.
  1. To activate Comp Fields, open the Narrative1 Options dialog in Excel and select Name Comp Fields.
  2. Choose the comp fields to save by customizing the Comp Sheet display. Narrative1 will scan the comp sheet table and create a comp field for each piece of data displayed in the comp sheet. 
    Important >> This is a necessary step, even if you are not using Comp Sheets in Word. 
  3. Save Fields and Tables as you normally would in Excel.


  4. Open Word and click Fields and Tables. There will now be a new tab: Comp Fields. Comp Fields work the same way all Narrative1 fields work. Simply insert the field where the data should be displayed in Word. Note, however, a new field, Comp#_Image is listed. This field will display the comp image.


Tip: Use tables to organize comp field layouts in Word.

Top

Comp Export
Comps in the active appraisal file can now be quickly exported to a new Excel file for sharing or analysis.

New Excel Templates (5/3/10 or later):
  1. From any Goto .... drop down on the land, sales or lease grid sheets, select "Comp Table"
  2. Click "Export Comps". This will copy the comps from the current worksheet to the new Excel file.
Old Excel Templates:
  1. From any land, sales or lease grid sheet, right click and select Navigate, or Select Navigate from from the Narrative1 menu
  2. Click "Show Grid Controls"
  3. Click "Export Comps". This will copy the comps from the current worksheet to the new Excel file.
If this file is shared with another Narrative1 users, the data can be easily uploaded to their database with the Upload Excel utility. Please note: this export includes all data for the comparables. Check the file for confidential data before sharing.

Top

Sheet Controls
For backwards compatibility with older Land, Sales and Lease grid worksheets Narrative1 has special option for accessing sheet controls like buttons and drop-down menus that have been added to more recent worksheets. To access these controls, run the Navigation tool (right-click and select Navigate, or select Navigate from the main Narrative1 menu).

At the bottom of the Navigation form is button labeled "Show Sheet Controls". This will expand the form and display  Narrative1 sheet controls.

This feature is only available for the Land, Sales and Lease grid worksheets.


Top