Comp Index Maintenance

Navigate: Valuation > Valuation Management > Comparables > Comp Index Maintenance

Description

Comparability Index Configuration is the second component in creating the Comparable Selection Model. After comparables have been identified (via Comp Selection Configuration), use Comp Index Configuration to place the comparables in order of preference from most to least suitable.

Once created, the comparability definition involves the following basic steps:

• Identify variables to be used

• Set a weighting method for each variable

• Assign a weighting coefficient to each variable

• Calculate the comparability index value

NOTE: The Variable Configuration process must be complete before Selection Parameters can be selected.

Steps

1. On the Comp Index Configuration screen, click New Search in the Command Item bar.

2. On the Advanced Search screen, click Search to view all available models.

   • To narrow the results, enter search criteria, then click Search.

3. In the Search Results tab, select the checkbox for one or more items in the grid and click Next.

4. On the Comp Index Configuration screen, click the Description and Notes tab.

   • Make a selection from the Status drop-down list. These selections are user-defined per jurisdiction.

   • The Definition Code and Definition Name fields are automatically populated based on your search result selections. Edit these fields as needed.

5. Optionally, click the Add Note icon in the Comp Index Notes panel header.

   • Click Delete Note to cancel adding the note.

   • Click OK to add the note.

6. Click Save in the command Item bar.

7. In the Weighting Parameters tab, click Add New in the Comp Index panel.

8. Select one or more variables in the pop-up and click Apply at the bottom of the screen.

9. In the Comp Index panel, click the Pencil icon to edit an existing definition.

   • Click the green check mark to accept all edits.

   • Click the red X to cancel edits.

10. Optionally, click to select a definition in the grid and click Move Up or Move Down to re-order the list.

11. Optionally, click the Trash icon to delete a definition.

12. Click Save in the Command Item bar.

    • Click Close to end the task.

Tips

Comparability Index Configuration is the second component in creating the Comparable Model. Each component of the model is defined separately; the final build of the model is then a simplified model assembly process. You can select a variety of candidates (e.g., parcels, appraisal sites, etc.) or you can limit your selection to characteristics that match the selection criteria specifically. These definitions can then be used in a variety of models.