Appraisal Spreadsheet- Time of Sale Adjustment based on annual rate of change

[6string]

I am an appraiser that has designed my own spreadsheets I use in my appraisal practice. One of the adjustments I would love to simply is for time of sale based on an annual rate of change. Say the market is going up 5% per year and my appraisal's effective date is January 8, 2019 (today). And lets say I have three comparables that sold on March 5th, 2018; August 15th, 2018 and June 10th, 2018. I would like to set up the spreadsheet so that I can just enter what I believe the adjustment to be (say 5%) and all the comparables automatically adjust on my grid. Typically what we have is a worksheet that is our adjustment grid and the sale dates are entered, and I would have the effective date of my appraisal in a fixed location somewhere else. So the formula would have to also be able to calculate the different in time between the effective date of the appraisal and the sale date of the comps.

This is similar to an inflation adjustment. I typically just do this with my calculator, but its quite tedious. In this case the time of sale adjustments would be as follows:

Effective date of Appraisal 1/8/2019
Rate of change: +5%

Comp #1 sale date - 3/5/2018 - +4.23%
Comp #2 sale date - 8/15/2018 - + 2.00%
Comp #3 sale date - 6/10/2018 - +2.90%

So the formula would take all the above information and calculate those adjustments, and hopefully all I would have to do is enter the rate of change in a fixed cell as all the dates would be in fixed cells previously entered into my template.

Any tips?

Thanks!

[6string]

Hey all - I cracked the code with the power of google. I found the Datedif function and was able to figure it out pretty quickly.

Thanks anyways!

[fishengdan]

I am an appraiser that has designed my own spreadsheets I use in my appraisal practice. One of the adjustments I would love to simply is for time of sale based on an annual rate of change. Say the market is going up 5% per year and my appraisal's effective date is January 8, 2019 (today). And lets say I have three comparables that sold on March 5th, 2018; August 15th, 2018 and June 10th, 2018. I would like to set up the spreadsheet so that I can just enter what I believe the adjustment to be (say 5%) and all the comparables automatically adjust on my grid. Typically what we have is a worksheet that is our adjustment grid and the sale dates are entered, and I would have the effective date of my appraisal in a fixed location somewhere else. So the formula would have to also be able to calculate the different in time between the effective date of the appraisal and the sale date of the comps.

This is similar to an inflation adjustment. I typically just do this with my calculator, but its quite tedious. In this case the time of sale adjustments would be as follows:

Effective date of Appraisal 1/8/2019
Rate of change: +5%

Comp #1 sale date - 3/5/2018 - +4.23%
Comp #2 sale date - 8/15/2018 - + 2.00%
Comp #3 sale date - 6/10/2018 - +2.90%

So the formula would take all the above information and calculate those adjustments, and hopefully all I would have to do is enter the rate of change in a fixed cell as all the dates would be in fixed cells previously entered into my template.

Any tips?

Thanks!

Hi 6String,

I've actually been looking into building a spreadsheet just like this but don't quite know how to accomplish it. May I ask how you got this spreadsheet setup?

Thank you,

Dan

[alansidman]

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