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1.
Create a Sale in DataLog
There are four sections to the window. The upper left section shows the directory of your My Sales folder(s); the lower left is a section for Tools. The upper right section is a sales “grid” or list of the sales in the selected folder; and the sale viewer is the lower right section. It displays the currently selected sale; you don’t have any yet, so it is probably blank.
Decide how to organize your sales folders. Whether by location or type, keep one master folder (My Sales). Many users name folders by county, others keep a folder of sales from other users that is identified by the sender. Create and name a folder for this particular sale by clicking on Folders in the menu bar at the top of the screen. Anytime you need another new folder, just create one.
To create a new sale, click on the folder you just created or choose the folder where the sale is to go so that the folder is highlighted (selected). In the sales grid, choose New Sale -->New Blank Sale.
2. Enter Sale Data
In the Sale Analysis area of
the new sale, tab through the cells to enter sale data such as grantor,
grantee, acres, price, etc. Check Improved/Unimproved as appropriate. When you
enter data into certain cells such as Sales Price, you will see other cells populate
automatically with data, i.e. CEV Price. Be sure to enter the SCA (Sales
Comparison Analysis) Unit Type. This is frequently identified as acres,
however, in cases where sales are not driven by acres, other units of measure
such as AUMs, board feet, barrels, etc., may be used. For some cells, a
drop-down menu is available, such as Current Sale Date.
Note: When “mousing” over certain cells a padlock icon is seen. This indicates that the cell is “locked” by the software so automatic calculations occur. If you wish to change a value for a locked cell, simply click the padlock and it will “open” and you can make your change. Click again to change back to the default value. The font color will be red to remind you that you unlocked the cell and entered your own value. The red font does not show on printed sales or reports.
The Land Mix Analysis comes
next on the sale sheet. Creating a land table helps ensure consistency that is
important to the Sale Comparison Approach. In order to create a land table,
enter the desired land uses and their corresponding ratios into the Land-Mix
Analysis grid. It is
important to note that for rural residential sales, the site must be listed
in the first row so that when the sale is transferred into ClickFORMS the
software will work correctly. Click Select List-->Add and then enter a name for the list.
The ratios are developed by the user from puritan sales, productivity data, and rent data. They represent the relative value between the land types. The appraiser must set the $/acre value for the first land use row for an improved sale; this step is omitted with unimproved sales. The software will calculate the $/acre when the Calculate Land Values button is clicked.
Ratios, Acres, and $/Acre are for use with acres; the “Unit” columns are for use with non-deeded land that may be attached to the sale. Except for a Site row, insert values into only one group or the other so that software calculations will work properly. Otherwise, the site can be assigned a Unit Size of 1 with a lump sum $/Unit Value. Next, go to step A for an unimproved sale; for an improved sale jump to step B.
Step A. UNIMPROVED SALE: Input the number of acres for each of the land types; then click Calculate Land Values. The $/Acre and Total Unit Value columns fill with data. The final $/Acre reflects the land/mix ratios for the list you used. A $/Acre value for all land types needs to be developed, even though the sale may not have all of the types of land. This is important because the subject may have land types that the sale does not. The land/mix ratios should be reviewed and adjusted periodically to match market conditions. Using land lists ensures consistent data entry—critical for the software calculations to work properly.
Step B. IMPROVED SALE: Enter the $/Acre for the first land mix row. When a Site is listed in the first row, the $/Acre for the first true land type will be in the second row of the land table. The $/Acre value should be extracted from puritan sales. Next, click Calculate Land Values. AgWare complies with ASFMRA principles for residual contribution allocation: It goes to the building, not to the land. This is why in DataLog the improvements' values are entered first and the land is calculated afterward.
The next section is the Income
Analysis. Cash rent is used in this example. Click on Cash; enter Pasture
Rent as the income source, and 250 acres. The Stabilized $/Unit will be $8 and the
share will be 100%. The software calculates the income as $2000. You can list
expenses like insurance, maintenance, management costs, and taxes as needed.
Once the net income for each comparable sale is estimated, it will be divided
by the sale price of the property to develop an overall capitalization rate for
use in the income approach.
Improvement Analysis is the last analysis. There is room
for up to twenty improvements for the sale. Input the information about an
improvement in the order listed, for as you move from cell to cell, the values
will calculate for effective age and remaining life. For example, enter data
for a house of 1300 s-f with good utility and condition. With Total Life of 50
years, RCN/Unit of $45, and Physical Depreciation of 20%, the software will
calculate the remaining life as 40.
The improvement contribution is already known because it is based on the Land Mix Analysis; it is copied to the bottom of the improvement grid to allow the user to see the difference between the total entered improvement contribution and the known contributory value. Adjustments to depreciation are made until these two values match. The appraiser must decide how the depreciation is to be allocated among the improvements and to what degree the depreciation is physical, functional, or external.
There is a link at the bottom of each
improvement that opens an expanded detail page for it (left). You must
choose the type: generic or house. If you choose house and enter
related information, the house-specific data points will transfer into ClickFORMS.
An Attribute List is created in the
same manner as a Land List. When the expanded improvement page is in view, the
Attribute List is empty. Enter the attributes for the improvement in the
appropriate cells. 
To save the list for future use, click the drop-down arrow
and choose Add and name the list.
The Comments and Attachments Sections are located at the bottom of the sale sheet. There are four tabbed pages for a variety of comments options. The first three tabs are for comments that the appraiser wants to include not only in the sale file, but on the corresponding pages in a future report. For example, comments included on the Sale Sheet tab will migrate onto the actual Sale Sheet page of a report in ClickFORMS when the sale is pulled into a report. Comments entered on the General tab stay with the sale. Photos and documents can be “attached” to a sale.
The new Photo Pages section provides several options for including image pages that move with the sale.
Photos and documents can be "attached" to a sale. After images have been attached to the sale, they can be inserted into a Photo Page. There is room for comments and an optional title cell. These pages will move with the sale during transfer, whereas "Attachments" must be copied and pasted into a report individually.
A Final Few Words about DataLog: Two numbers are used to identify sales in DataLog.
When you create a
new sale and save it, the software will automatically assign a Database number
to the sale (1, 2, 3…). There is a cell for an Index Number in the upper
portion of the sales grid. This is for your internal numbering system.
Many users opt for something similar to 2009-08-12; this is a date method of course,
but you can customize however you prefer. The system never changes your
I-numbers; however, should you move the database around, the system might
change the D-number(s).
The DataLog default will save changes to the sale automatically when you exit the sale. A message appears on screen to remind you that changes are being saved. If you wish to exit a sale without saving any changes, simply choose Sale -->Close Sale without Saving.
NOTE: REPEAT STEPS 1-2 FOR EACH SALE YOU ARE USING IN THE APPRAISAL.
3. Choose a Report Template
When you open ClickFORMS the toolbar
is found across the top of the screen. The Forms Manager (container) on the
left side of the screen is the yellow list of forms currently in the report. The
remaining area is the report viewer that shows the current page selected in the
report. The Forms Library, a directory of all available forms, can be opened
several ways from the toolbar.
A commonly used report template is the UAAR Template (File
-->New). You may delete and add forms as desired. Later, you will probably design a template with the pages you use in your typical appraisal.
4. Input Subject Data on the Quick Start Page
The Quick Start Page is the first
form in any appraisal. It is not usually printed as part of a report, but it
serves as a source page for shared subject data. Enter the subject
information and be sure to include critical information necessary for
ClickFORMS calculations to work, such as:
-SCA Units
-Land Table
-Effective Date of Appraisal
You must indicate both the SCA
Unit Type and effective size because these transfer to the approach pages,
adjustment pages, and the reconciliation page, to name a few. As noted
previously, the unit type is most often acres. The effective unit size matches
the subject Total Deeded Acres. To pull in a Land Table, recall that you
created a land list in DataLog. These automatically migrate into ClickFORMS
under Lists (on the toolbar). With your report open, click Lists--Land Table and then click on the drop-down
arrow to view your tables. Choose the one you need and select Transfer. The
table will drop into the Subject Land Types section of the Quick Start page. The
Effective Date of Appraisal is needed for time adjustments calculations.
Enter in the remaining subject information. Add/edit your pages as you prefer. Remember that after the comparable sales are pulled into the report, it will be important to put and keep them in preferred sequence, as you will be numbering them internal to the report (section 5).
5. Import Comparable Sales
In DataLog select the desired sale
and click Transfer Sale--Copy
Sales to Clipboard. Switch back to the report in ClickFORMS, click Edit--Paste;
each sale you paste will be listed in the forms manager. Any time a form is
added it drops in at the bottom of the
list. Rearrange the list using the up/down arrows at the top of the
list. Delete pages by choosing the trashcan icon. To include the
sale attachments in the report, from the sale sheet in DataLog perform the
select--Copy--Paste operation for each attachment; paste images and
exhibits into appropriate forms that you have selected from the Forms Library
and imported into your report. Attachments do not automatically transfer to
ClickFORMS unless they are image files that have been imported into a Photo
Page. Refer to the previous section about Photo Pages.
Arrange the sales in the report in
preferred order. To renumber them, click the DataLog
option on the menu bar and choose Auto Number Sales. The Sale # cell is found on the right
top corner of the sale sheet. Renumbering the sales enables the reader to
easily identify each one used in the approaches. Now the sales have been retitled in the Forms Manager, as well as in the
Table of Contents. Renumber the sales
prior to step 6.
6. Pull Sale(s) Data into Approach Pages
For approach pages such as the Sales
Comparison Approach, enter the sale number in the matching data column so
that the corresponding imported sales’ data automatically migrate into the
approach page. In other words, you are telling the software that the sale you
identified as sale #1 (in step 5) is to be identified on the approach pages as
sale #1 in the first column. The assumption is that if a sale is labeled as sale
#1, its data belongs in the first column. In the November 2009
release of the software, the column headings read only “Sale” so that the
number is not shown twice.
Once this step is complete, and presuming that the Subject Data had already been entered, the corresponding Sale Adjustment pages will automatically fill with adjustment data.
Finalize the Report
Complete the finishing touches for the report. Add maps, documents, etc. (see details in Addenda). Check the page order, etc. Save the report with a meaningful and short file name, such as last name. You are ready to, print, copy, email, or otherwise use your completed report. Congratulations!
Addenda
Adding Maps, Photos, & Exhibits
Add as many of these forms as needed.
For example, to include a sales location map, a few clicks does the job. Pull an exhibit page into the report: open
the Forms Libraryàtype
“exhibit” in the search box-->press the enter key until the desired page is highlighted-->double-click the page. The page i
s
now inserted into the report at the bottom of the Forms Manager list.
To insert the map: right-click on the image cell on the exhibit page-->select the desired insert option-->double-click the desired file. Note: Images and pdfs are not editable; however, labels and free text may be applied to the exhibit pages as shown below.
Order of Adjustments
For the order of adjustments in a DataLog sale file, Property Rights Sold (Other Contributions), Terms (Financing), and Conditions of the Sale, are considered in the Sale Analysis Section. This relates to the SCA. The remaining adjustments for Land, Time, and Additional Factors are included in the approach pages of a ClickFORMS appraisal report.
More about Land Lists
A land list is created by the appraiser who, using current regional market data, determines the land types/uses, their mix, and corresponding ratios. The land list used for a given report should reflect all reasonable, possible uses for the property in a given market area.
A ratio of 100 is typically attributed to a land type/value that represents the most commonly found land type in the market area. This is usually listed first in the land mix table in AgWare. Other land types are then assigned ratios as compared to the first; these ratios may be >, <, or equal to the first land row ratio. So, a ratio of 300 for example, means the land type is 3 times as valuable as the land type valued at 100; a ratio of 50 would be half as valuable, 25 would be one fourth, and so on. It is possible for more than one land type in a list to be assigned a ratio of 100.
The appraiser may wish to create a number of land lists tailored to the more common land-mix scenarios found in the local appraisal market. These can be created, stored, edited, and selected in the DataLog at the time a sale is entered. Once named and saved, these same land lists will also be available in ClickForms from the List option on the menu bar. A sample land list is shown below.
Notice
that dry crop “A” is listed first and assigned a ratio of 100; Pasture “A” a
ratio of 50; and Roads/Waste a value of 0 for obvious reason. UAAR forms are
limited to maximum of 10 land types for a given list. It is important to note that for a rural residential sale, the site
must be listed in the first row so that when the sale is transferred into
ClickFORMS the software will work correctly. This means that the first
true land type will be in the second row!
Land List Calculations for Unimproved and Improved Sales
For an unimproved sale, the DataLog Land Analysis calculates the land and improvement contributions as follows: First, the appraiser enters the Sale Price in the Sale Analysis section; there is no entry for “Other” contribution. In the Land Analysis section the appraiser enters the land mix data for the first three columns: Type, Ratio, Acres. Next, the Calculate Land Values tab is activated. The $/acre values will fill automatically and the land values summed at the bottom of the Land Analysis grid. The sum total, the Land Contribution, will populate elsewhere on the page automatically; it will equal the CEV price, leaving the Improvement Contribution value at zero in the equation.
For an improved sale, the procedure differs somewhat. The Sale Price is entered and the CEV price will fill automatically. In the Land Analysis section, the land mix data is entered for the first three columns: Type, Ratio, Acres. Next, a $/acre value for the first true row/land type ONLY is entered; this is necessary for the software to calculate properly. The appraiser determines the #/acre value based on market data at the time of the sale.
The appraiser then clicks the Calculate Land Value button. The remaining $/acre values will fill automatically and the land values will be summed at the bottom of the Land Analysis grid. The sum total, the Land Contribution, will populate elsewhere on the page automatically.
The Land Contribution is deducted from the CEV price, thus leaving a residual amount of value that goes to the improvements. This follows ASFMRA principles. The improvement contribution is based on RCN/unit, depreciation, and other factors. If the value conflicts (it likely will) with the residual that was calculated in the Land Mix Analysis, the appraiser should be able to reconcile the difference by considering other factors and various pertinent influences on the market.
Page Properties
There are several page properties
that can be changed as needed. For example, when pages are
brought into a report from the DataLog or from the Forms Library, they are
listed with a default page name. To change the page name: R-click on the
yellow bar at the top of the page to be renamed-->Page Properties-->make changes as desired. The page (seen below)
titled Exhibit was renamed to Sales Location Map.
Sometimes certain pages are needed in the actual report file, but not in the print copy. To exclude them from the report numbering or in the Table of Contents, changes are made in the Page Properties window.