Friday , 18 September 2020

Can you Really do Regression Just Using Excel?

IDAHO FALLS, Ida.-  The Appraiser Coach, Dustin Harris, announces today the release of a new two part webinar series. Have you ever been asked by a client to “please show support for your [___________] adjustment?”  Do you come away looking like a deer in headlights?

This is not just another regression webinar.  Regression seems to be all the rage right now in the appraisal profession.  It is important and more and more clients are expecting additional support for adjustments, but how do you do it?  “I used paired sales analysis” doesn’t cut it anymore.  There are plenty of tools and software programs claiming to be the ‘solution,’ but do you need to spend money to do regression analysis?

This Two-part Webinar will cover the following:

Part I – Why Regression?  Do I Really Need to Do It?  $39 (or $59 for both)

What is regression exactly? Why do we use it for residential appraising? What does it tell us? Can we perform regression studies ourselves, or do we need fancy tools?  These are just a few of the questions we’ll answer in Part 1 of this regression basics webinar. Eliminate the mysteries surrounding regression and really understand what is behind regression processes. This webinar will introduce simple regression examples using  Microsoft Excel only. No software is being sold.

 Part II – How To Do Real Regression Using Simple Excel Techniques      $39 (or $59 for both)

Now that you know some of the basics of what regression is… so what?  In Part 2 of this webinar series, find out how you can develop simple regression models using your own local data – using just Excel! Learn to combine regression information with paired sales methods, to have even-stronger support for adjustments and conclusions within your appraisal report. This webinar will instruct in the use of Excel for performing regression studies using multiple characteristics of properties. Again, no software is being promoted or sold.

Click here to register for the webinars!

 Instructor:  Josh Walitt

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Mr. Walitt is a Certified Residential Appraiser licensed in Colorado. He works as a fee appraiser, reviewer, speaker, and consultant. His consulting work centers on software, compliance, workflow, and appraisal procedures. Since 2010, he has designed and used excel-based analytical tools for market analysis and regression modeling, and has coached appraisers and trainees in the use of these, and similar, tools for developing and supporting market-based appraisal work. Contact Josh here!

Instructor: Dustin Harris

Dustin Harris1Dustin Harris is a successful, self-employed, residential real estate appraiser. He has been appraising for nearly two decades. He is the owner and President of Appraisal Precision and Consulting Group, Inc., and is a popular author, speaker and consultant. He also owns and operates The Appraiser Coach where he personally advises and mentors other appraisers helping them to also run successful appraisal companies and increase their net worth. His free podcast can be listened to on iTunes and Stitcher. He and his wife reside in Idaho with their four children. He has recently given up his addiction to Swedish Fish… at least for a few days. Contact Dustin by emailing him here thecoach@theappraisercoach.com and visit his website here!

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    Linear regression is bogus. In order to get any type of credible result it requires tons of data, which includes data for sales that for the most part are not comparable to the subject. It is much easier and acceptable to derive adjustments based on market reaction just as it was taught in appraising 101 class. The typical buyer never uses linear regression when making mental adjustments to comparable sales. Typically buyers look at things like location, condition, upgrades, school districts, distance to employment centers and overall condition of neighborhood which as you know is qualitative data that linear regression cannot account for. Instinctively buyers know what is an acceptable offer price based on the comparables they see while they are house shopping.
    The trend today is big data, which in the end is detrimental for appraisers due to the simple fact that computers will be able to do the appraisal. If the big data trend continues to gain ground and adjustments based on quantitative linear regression become the norm then the appraisal industry will be totally screwed. Don’t forget that all the adjustments you enter into the appraisal forms is captured and stored in huge databases which Fannie Mae and now HUD is using against us appraisers. It the data they capture consists mostly of linear regression adjustments then that is what will become the new benchmark. The use of linear regression adjustments will perpetuate itself and those who do not use linear regression will have a very difficult time explaining their market derived adjustments which are based on true comparable sales data. If you begin to rely on linear regression then you will be a slave to third party vendors, FANNIE Mae and FHA/HUD. Wake up appraisers don’t buy into bogus linear regression, we don’t need it.

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