RESIDENTIAL SNAPSHOT INFO

The Appraisal Snapshot takes a snapshot of a parcel on the day in which it sold.

The Appraisal Snapshot is what the LandMark system will filter through when user runs the Market Models: Direct Comparable Sales, Multiple Regression Analysis, and Gross Rent Multiplier. The Indexes assigned to these Market Models are built and saved from the Residential or Commercial Snapshot modules and can be viewed there.

It is important to have this information as accurate as possible, as your sales data is analyzed in many models and various approaches to value.

To View a property’s Appraisal Snapshot

• From the Main Menu: Sales — Appraisal Snapshot — Residential Info
  

• From the Parcel’s Sales file: View — Appraisal Snapshot

When to Correct Appraisal Snapshot

• If the system data WASN’T listed accurately on the day of the sale, the Snapshot should be updated to insure clean data.
  Example:
  The Appraiser was reviewing a sale or reviewing a VI Area and discovered the Appraisal Snapshot wasn’t accurate at the time of sale (ie. condition was listed at poor condition and should have been average, an addition had been added, but not picked up, etc.), they should update the Appraisal File AND Snapshot (in the Sales File).

• If the data WAS listed accurately on the day of the sale, then the Appraisal Snapshot shouldn’t be updated.

• If the data WAS listed accurately on the day of the sale, but changed shortly after the sale, ONLY update the Appraisal File then Update Assessed Values, but DO NOT update the Appraisal Snapshot.
  Example:
  The Appraiser was reviewing a sale or reviewing a VI Area and discovered changes in the property (the new owner remodeled the property) after the recent sale.

How to Correct Appraisal Snapshot

• In the Appraisal File make appropriate changes to reflect how the property was on the date of sale.
• Go to Sales File —Instrument Table — Tools — Re-load Appraisal Data
  It will update the Appraisal Snapshot. User may choose what data gets updated.