Land Analysis

Navigate: ClosedValuation > Analysis > Land Analysis

Description

NOTE: The Study Group Analysis task is a prerequisite to the Land Analysis.

Land Analysis allows you to establish market value by selecting a defined Study Group and performing standard statistical analysis on it to compare the current model-computed results with the sales' prices contained within the selected Study Group.

Initially navigating to Valuation > Analysis > Land Analysis displays the Land Analysis Sumvamary screen listing all of the existing study group datasets for Land Analyses.

Steps

  1. Select the Land Analysis Group. The Land Analysis Summary grid populates to display the study groups for the selected category.

    2. OR

    Create a new analysis group by entering the new group's name in the Land Analysis Group field and clicking Add New Analysis Group.

  2. Click the Expand icon to reveal the Land Analysis details in the Land Analysis Summary grid.

  3. Click the Add new icon to add a Land Analysis. The screen refreshes to display fields for defining the Land Analysis' basic settings.

    4. OR

    Click the Edit icon to edit a Land Analysis in the grid. The screen refreshes to display fields for editing the Land Analysis' basic settings.

    • Select the basic information used to identify the study group.

      • Effective Date

      • Name

      • Status - Indicates the availability of the Land Analysis for use in the application.

      • Analysis Group - The worklist in which the Land Analysis resides.

      • Description - Enter a description for the Land Analysis.

      • Study Groups to be used in Land Analysis - Add New, existing study groups to the Land Analysis.

    A Land Analysis run with a specific options set for a given Study Group produces a unique set of statistics as its primary output. The statistics apply to the uniquely selected and filtered Study Group and the filtering applied as options within the specific Land Analysis processing run.

  4. Click Next. The screen refreshes to display the fields for defining/editing the Land Analysis' analytical settings.

    • Optionally select to Perform a Time Adjustment. When selected, sales are adjusted to the Effective Date set in Step 3.

    • Select the Method to Define Land Value for the Analysis.

    • Select Locational Stratification for Land Analysis

    • Schedule a Batch Process, as desired.

  5. Click Finish. The screen refreshes to display the Land Analysis Summary grid,.

    • Click Refresh to clear all selections and refresh the page.

    • Click Close to end the task.