Drawing your Neighborhood
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 when the neighborhood has low market movement or is sparsely populated.
Drawing Your Neighborhood (Required) & Similar Market Area (Optional)
Steps to Follow:
Select either the Polygon or Square draw tools on the right-hand side of the screen to define the Neighborhood boundaries.
Draw the subject's Neighborhood boundary. The completed shape will be green to indicate that you have drawn a Neighborhood polygon.
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, first draw your Neighborhood Polygon— any additional polygons you've drawn after your initial Neighborhood Polygon will be considered Similar Market Areas. They will be indicated by the color blue.
When done drawing your Polygons, click SAVE in the upper right corner.
Editing your Neighborhood
If after saving your Neighborhood you need to make any changes, please complete the following steps:
Select the Edit Area button on the top left of the map
Select either the Edit tool or the Delete tool
When done drawing your Polygons, click SAVE in the upper right corner.