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Show E7 TheSalt Lake Tribune BUSINESS Sunday, August 30, 1998 Computer Glitches Plague Realtors in Compiling Home Sale Prices Butlisting service takes steps to ensure accuracy in reporting transactions BY LESLEY MITCHELL THE SALT LAKE TRIBUNE Appraiser Jim Cavin was searching the Wasatch Front Mul- tiple Listing Service for homesale data when he saw an Olympus Cove home that listed for $399,900 andsold for a whopping $3.88 million He also found a homelisted for $269,900 with a selling price of $2.4 million and a $119,000 property which sold for $1.16 million. tailed information about far south as Point of the Mountain The average selling price of $130,576 released by the Ogden board includes properties in Davis County That confuses buyers and sell- home erage selling prices for particular areas, the MLS will soon no longer simply reject home sale data in ies 10 percent to 15 percent from thelisting price to help reduce the which the listing price and selling number of keystroke errors. In addition, Realtors no longer neighborhoods. throughoutthe state subscribe to allows the Utah As: ers, said appraiser Cavin. “People the service, which lists properties for sale and provides data on properties that sold. James Naccarato, president of the Wasatch Front Multiple List- price vary by more than 25 percent, as wasthe old policy will be able to make changes to Hesaid in the future, more at- they instead must call the service. which will verify any changes are correct before they are made to the database. That also will help Realtors to track home sale appreciationbyzip codes. Under the old system, the a: ciations released to the selling prices for 2 their boards operate. see that prices overall keep going up and some people get really angry when their home's value erty listings also is now bei eross-checked with county asses- tions. a example, the averagesellin, ice of $168,188 released by Realtors and the Utah County Association of Realtors. Realtors and appraisers ing Service, acknowledged the transition from one computer system to another hasn't been easy. But he insists the new system will provide a much more accurate picture of the Wasatch Front’s real estate market tentionwill be paid to the differ- ence between the twoprices and that if there is a large diserepancy, the MLS will investigate and if contain errors, Nacearato said. He said data contained in prop- necessary, correct the informa- tion before computing averages. The new computer system also will flash the question, “Are you For starters, when figuring av- surethis is correct?” when a Realtor enters a selling price that Lae _ MLSfiles after a property is sold: in te sales and appreciationinspecific The new system doesn't comein where theythink they should be,” he said. Zip codes would provide @ more accurate picture, said cities, counties, or postal desi ahm of the Salt Lake Board. “Not all areas are appreciating, he said. “People want to morg,ac- sor records. the Salt Lake Board of Realtorsin curately know how specific areas The new system also is good news to those who want more de- the second quarter includedsales as far north as Farmington and as do that ais oeie _ “ ay doing and nowwe're able to os All are mistakes, say the Realtors who sold the properties. “This doesn't look good,” said secavin, who uses the multiple-listservice (MLS) to help deterne the values of homes he appraises. “It makes you wonder ow many errors are in here.” f been a tough one for the Multiple | Listing Service and the various r=] Realtor groups that provide the company with home-sale informa- fs) [ ately gather and disseminateinformation about the Wasatch ont's real estate market has : RTRsrat Thetransition to a new computér system desigued to more accu- iv aS = tion After a month's delay, Realtors last week released second-quarter homesale data in which the average Utah home sold for $164,299, a 11.16 percent increase over the same period last year “L would take the second quarter numbers with a grain of salt,” said Stephen Frahm, executive vice president of the Salt Lake Board of Realtors. 2 Fer 15‘ BACH: x & par pack é NVA aoe, 2 Somelistings were incorrect — ‘ watihetle several Realtors say unfamiliarity Note ie‘Gpewaineda sd. bx 2050m with the new program caused them to make keystroke errors that inadvertently inflated the : BOOK 1 Week i ire nce WilsonJones 1" selling price. Other entries were low Price Guarantee '"6-PK Purchase Only aecidentally omitted when the Unix-based system converted oper to the new Internet-based Wide-Reled Colormatic Rent eceneroo reas Gael Blue 367° aise Hetebooks Bhp 14 x 8° popes College Reled, SO0-CT, 10-)-" x 8" 506-220 (oor oe 2972 tin'3.28 “Post Realtors are members of tRe Wasatch Front Multiple List- ing Service, owned by the Salt Mead SOO-CT, 19%" x 8" 346-551 (upon (ode 2923 Mares cata wih SOpie (Wc exes 15/98 Sw stfr das. 7#F# !Sebled. +6 46-449 tnt 670 Lake Board of Realtors, the Greater Ogden Association of DLE Ls aC Transition: From Working World Beerwae Lna 5 di To Raising Kids @ Continued from E-1 proving computer or other skills Ten oer ert TTaaee Pim oe eee in anticipation of re-entering the m It provides opportunities for women to keep their business skills current by running the organization and working on advocacy projects intended to motivate business and government to be more responsible in meeting the ‘A aayell8) Compaq 2256 Computer With 300 MHz AMD-K6° MAX” Enhanced Processor ~ Computer (385-248): Microsoft® Windows® 98 included © 48 MB SyncORAM, 4.0 GB hard drive © 32x max (0-0 cso aipe (35 44, 3020 od 3711 ferexpees appli Ole 97 Oude pth oan 754 operte of ore he re sf expres 12/31/90 Se 1°" Pakage aig fied ot ogi feo pre © 56K modem with ITU 190 updates (Actual downlood speeds may vary) © NSTL Your 2000 compliant Compag MV400 14" Color Monitor With Speakers (380-243): Hw .*te2 viewable image orea 200 Color laiiet Printer (372-831): ow Aas ol ee Print speeds of up to ean etd 29 needs of families, she said. “It helps you develop as a person as well as develop as a mom,” & Texas INSTRUMENTS said Lisa Kaiser, who left an in- surance job to care for her chilen. “It encourages you not to lose yourself.”” Low Price Guarantee While F.E.M.A.L.E. is geared also exists to address the needs of stay-at-home dads. Dad-to-Dad, an Apple Valley, Minn.-based group formed in 1995, has grown to include 30 none of them are in Utah one Intermountain West, founder Qurtis Coopersaid. Dad-to-Dad is primarily a social 1-83 Advanced Graphics Calculator trons organization aimed at helping nfopeng sf now clas ca stay-at-homedads combattheiso- 492-900 lation they experience, he said Low Price Guarantee ***5-PK Purchase Only Sanford Uni-Ball® Vision Rolierball Pens 5-PK * 0.3 mm Fine Pr Black 655-233 Hoon Assorted 505-586 Bive 19 ial Price Bre Wook Only site Pentel 50sac x 3 PER PACK ra) at hitp://www.FEMALEhome.org, Utah Valley residents may call Mahnken at 785-1533. 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