Due to popular demand from appraisers, Dynamo MC can now utilize Gross Living Area (GLA) data. In the newest version of Dynamo MC, 9 charts and 1 report have been added that deal with GLA. You can use these in your appraisals to provide insight into property value trends and changing price per square foot values. Some of the new charts and reports are shown below.
Sample Charts
Sample Report
How to use these charts to support GLA adjustments
You may notice that some charts now directly compare Price vs GLA. This style of chart can be used to help determine a reasonable GLA adjustment with the right data. The slope of the line indicates the rate at which the price changes with the size of the living area. Real Estate Appraiser Gary Kristensen (of A Quality Appraisal, LLC) uses this regression analysis technique to determine Living Area adjustments in his appraisals. He has written multiple articles and created videos to teach this technique to other appraisers. You can learn more in his latest blog post. This same approach can be used with Dynamo MC, but you’ll also have the advantage of better looking charts than you can get with Excel, and you’ll get your results faster too.
Note: When choosing GLA from your MLS, please be sure that you are using GLA as an appraiser would define it (the above grade living area only). This ensures that you are comparing apples to apples in your appraisal. If for some reason your MLS only provides data for the total square footage of the properties, please disclose this in your appraisal comments and account for this when considering any results.
Monthly Housing Supply Chart
An new chart showing months of housing supply has also been added to provide a monthly breakdown of the inventory available in your market.
You’ll find all of this and more in the latest version of Dynamo MC (version 1.0.4.8). For more information on what has changed, please check the Change Log. When you start your current version of Dynamo MC, you will be notified of the update and shown a link to the newest installer.
Does this update help you get more out of Dynamo MC? Please let us know at feedback@dynamoappraiser.com.