In this section, you will define your Neighborhood. The 1004MC, One-Unit housing and Inventory numbers are based on the boundaries you define for the neighborhood.
If there are insufficient comparables in the Neighborhood, you can define a Similar Market Area(s) to search from. Your Similar Market Area will NOT be considered for the 1004MC, one unit housing and inventory calculations.
Common scenarios for using Similar Market Area(s) include appraising unique properties of when the neighborhood has low market movement or is sparsely populated.
Drawing Your Neighborhood (Required) & Similar Market Area (Optional)
The gif above shows how to DRAW, EDIT and DELETE boundaries as well as how to turn on map layers to help draw map layers.
Steps to Follow:
Ensure the toggle is on Neighborhood.
Select either the
Street Selector,
Polygon or
Square draw tools on the left to define the Neighborhood boundaries.
Street Selector: Click the green highlighted streets that bound your neighborhood. When finish selecting, click the center of the square to close the shape (see above gif).
When using the Street Selector tool, the Neighborhood boundaries commentary automatically populates: "Bounded by {Street name} to the East, {Street name} to the North,{Street name} to the South, {Street name} to the West."
Draw the subject's Neighborhood boundary. The lines should be yellow.
If the lines aren't yellow, make sure to click the Neighborhood toggle.
If you are done, click SAVE in the upper right and skip the remainder of the steps.
To search in one or more Similar Market Areas, click the Similar Market Area toggle.
Draw the Similar Market Area boundaries.
If the lines aren't blue, click the 'Similar Market Area' toggle.
Please Note: Hit SAVE in the upper right corner.