Time Period Configuration

Navigate: ClosedValuation > Configuration > Time Period Configuration

Description

Specify value adjustments by time period in support of Comparable Sales (Time Adjusted Sales Price).

Add a Time Period Configuration

  1. On the Time Period Configuration Summary screen, click Add in the Market Condition Criteria panel.

  2. In the Market Condition Criteria Definition pop-up, enter or select the required information (marked with a red asterisk).

  3. Make a selection from the drop-down lists as needed.

    • Apply Adjustment – Defines the subset to which the adjustment applies.

    • Description – This is filtered based on your selection in the Apply Adjustment drop-down list.

    • Appraisal Site Class Group – Defines the Appraisal Site Class Group to which the adjustment applies.

    • Appraisal Site Class – Defines the Appraisal Site Class to which the adjustment applies. This is filtered based on your selection in the Appraisal Site Class Group drop-down list.

  4. Click OK to save your changes.

    • Click Cancel to discard your changes and close the pop-up.

    • Click Reset to clear all selections and refresh the pop-up

Edit a Time Period Configuration

  1. In the Market Condition Criteria panel, click the Pencil icon for an item in the grid.

  2. Make a selection from the Market Condition Criteria Group drop-down list.

  3. Enter a description.

  4. In the Market Condition Adjustments panel, click Add Month or Add Date to set Period Start.

  5. Enter the Annualized Adjustment Rate.

  6. Repeat these steps for subsequent periods. Entering a new period will automatically populate the Period Stop field of the prior Period.

  7. Click Save in the Command Item bar.

Export Sales Data

This panel is used to manually update the Data Source with the new Time Adjustments. Most jurisdictions regularly auto-update the Data Source, so these steps will likely be unnecessary.

  1. Enter the Batch Process Name.

  2. Make a selection from the Data Source Name drop-down list.

  3. Enter or select the start date and start time.

  4. Click Submit to Batch.

  5. Click Save in the Command Item bar.

Import Regression Results

This panel is used as an optional capacity to calibrate Time Adjustments using regression.

  1. Drag-and-drop a properly configured file to the panel.

    OR

    Click Browse for File to import regression results.

    • Consult your IT Department for the proper file format.

  2. Click Save in the Command Item bar.

Tips

Time Period Adjustment Examples:

  • Adjustments are generally entered on a monthly basis, but are calculated at a daily rate. For instance, a 3% Annualized Adjustment Rate with a period starting January 1 and ending on March 30 is effective for 89 days.

    • 3% Annually/365 Days = .0082% (Jurisdictional Rounding Rules will be applied)

    • .0082% Daily * 89 Days = .7298% for the period

  • Once saved, a Market Condition Criteria cannot be deleted. It could, however, be moved to an obsolete Market Condition Criteria Group.