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Saint Paul Regional Office
Regional Loan Center
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Market Analysis
| This information should be placed in the “Neighborhood” section of the URAR or an addendum.
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| Sales or Financing Concessions: |
- The prevalence of sales or financing concessions. These may include any interest rate buydowns, inclusions of non-realty items in the transaction, seller payments of any buyer closing costs, etc. For example, “Seller is typically paying 1% to 2% of sales price in concessions.”
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| Housing Supply and Demand: |
- Provide the average listing price to sale price ratio for the subject market area. For example, “98% of list price is the normal selling price.”
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| Marketing Time and Trend: |
- Consider the marketing time trend (increasing or decreasing) in the subject market area, and report the extent of increase or decrease in the average marketing time (listing period) in that market area For example, “In the last 3 months, the listing period in the subject’s market area decreased from 180 to 90 days.”
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| Sales Listings and Contract Offers: |
- Analyze sales listings, contract offers and unsettled sales to determine if market conditions changed between the date each comparable sold and the date of the subject property appraisal.
- Certify: “I have considered relevant competitive listings/contract offerings in performing this appraisal, and any trend indicated by that data is supported by the listing/offering information included in this report.”
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| Reviewed/Updated Date: October 7, 2008 |
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