Among other things, CAREAS selects comparables (as described in the previous paper) from a database and computes the adjusted comparable (an estimate of the subject value), using the percentage adjustments methodology assuming the comparable and the subject value have the same random error.
Readers have been requesting a copy of our CAREAS under the misunderstanding that our models are "generalized.
CAREAS is a single computer program with supporting files.
However, the CAREAS operator may wish to consider a subject's being in a new subdivision when defining the marketing niche.
The three CAREAS programs are constructed with common components and unique components.
The CAREAS can be used to do what can be described as a "limited" appraisal.
The CAREAS can be used to do a less limited appraisal.
The CAREAS can be used in a "full" appraisal - collecting the data and making the computations required by the Uniform Residential Appraisal Report (URAR) form - to help in selecting the three closest comparables and making the adjustments.
Sections from the CAREAS output from an example appraisal in Marion County, Oregon, are shown next, with explanatory notes.