The Lots tab is a multipurpose tab unique to the Subdivision valuation feature. In this tab, you will define different lot types and their details. This information is used in the Valuation Workbook to further build your report.

This guide outlines the specific functions in Valcre Online related to Subdivision Valuations. Learn more information about adding jobs, properties, and comps in Valcre Online.

 

Prerequisites 

• Subscription Tier: Professional (with the Subdivision Add-on) or Enterprise
  • The Subdivision feature is not included in the base Professional subscription and requires an add-on.
  • To discuss access to the Subdivision Workbook and Report Template, please contact your Client Success Manager 
• Feature Enablement: Subdivisions must be enabled by a Valcre administrator.
• Required Software Versions:
  • Valcre Add-In: 2.0.8.0 or higher
  • Valcre Workbook: 1.4.25 or higher

 

 

How-to Guide

Step 1: Create the property

When creating the property, select Land in the Property Type. This ensures the correct tab is added for subdivision valuation.

Step 2: Access the LOTS tab 

1. Open the property in Valcre Online.
2. Select LOTS from the top menu.
   
   

Note: If you have selected Land as the Property Type and LOTS does not appear, your account has not enabled the Subdivision feature. Please contact your Client Success Manager for assistance.

Step 3: Add the necessary Lot Groups

1. Select ADD LOT GROUP.
2. Add as many lot groups as needed.
   
   

💡 Pro Tip: Many appraisers divide lot groups by different lot types on the property.

 

Step 4: Fill in the Lot Group details as applicable

Improvements

Select one of the following:

• Improved Lots
• Partially Improved
• Unimproved
• Unknown

Lot Details

• Number of Lots: Enter the number of lots in this group.
• Typical Lot Size: Enter the size in square feet (SQF).
• Front Footage: Enter the front footage measurement.
• Minimum Home Price: Enter the minimum home price.
  • 💡 Pro Tip: You can enter either the developer’s proposed minimum home price or your own assessment based on comparable subdivisions.
• Price Per Lot: Enter the price per lot.
  • 💡 Pro Tip: If you have lots of different sizes, consider entering them as separate lot groups.
• Lot to Home Ratio: This is calculated as Price Per Lot ÷ Minimum Home Price.
  • 💡 Pro Tip: If you collect Lot to Home Ratio data from comparable properties, you can use it to estimate the subject lot value. Example: If comparable properties typically have a 20-25% Lot to lot-to-home ratio, you can apply that percentage to your subject's Minimum Home Price to estimate lot value.
• Lot Absorption / Quarter: Enter the expected number of lots purchased per quarter.

Note: In bulk sales, homebuilders often purchase lots in phases rather than all at once. This field captures that absorption rate, which can be used to forecast absorption for the subject.

• Lot Description: Enter a unique name for this lot group.

Important: This name will be referenced in the Valuation Workbook and the LOTSALES sheet in the Word Template.

• Lot names must be unique within the same property.
• Lot names do not need to be unique across different properties.

Step 5: Repeat for Additional Lot Groups

• Follow the same steps to add each additional lot group.

The Summary table at the top of the page will update as you add more groups.

 

Once you have completed all the necessary information in the Lots Tab, you can set up your Valuation Workbook.

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