General Redstone Questions

• What does Redstone do for me?

  Appraisers are accountable to document how they determined the adjustments used within their appraisals and the criteria used to select comps. Redstone uses an analytical process to assist in determining the adjustments as well as documenting the selection process for comparables. In addition, a 1004MC is completed.

• How long does it take to complete a Redstone analysis?

  Experienced Redstone users tell us that a typical Redstone analysis takes as little as 15 minutes – far less time than traditional methods for producing similar results. Although there is a learning curve, investing the time needed to gain competence with Redstone will return that time many times over, enabling your production (or vacation time) to increase while simultaneously producing higher quality reports.

• Are classes offered for Redstone?

  Video training is available by logging into your AppraisalWorld My Office account. Click on the Redstone icon in the My Desktop Software section:

  Click on "Redstone Training" to watch the Redsone training video. You may also download the Redstone User Guide and Regression Overview documents. Free technical support is available Monday – Friday, 8:00 a.m. to 5:00 p.m. Pacific Time. You may send an email to support@bradfordsoftware.com, click on Request Support under the Help drop-down menu in Redstone or call 1-800-662-8727

• Where are training materials and user guide located for Redstone?

  Log into your AppraisalWorld My Office. Click the Redstone icon under the My Desktop Software tab in AppraisalWorld to Get Started using Redstone.

• How much does it cost for each Redstone analysis?

  Each Analysis cost $5 per property address. New users can purchase a Starter Package that provides MLS set up, training and 10 Redstone Analysis for $99. Contact Sales for more information and to purchase. In addition, you can purchase a 50 pack in the AppraisalWord Store.

• What types of subject properties are best suited for a Redstone Analysis?

  Single family homes, condominiums and townhomes.
  Specialized properties with qualities not included in the components of value: view, quality, location or exclusive should only be compared to properties with similar qualities, location or exclusivity. The reason for this is these qualities that have a highly significant impact upon the value of each property cannot be accounted for within the regression analysis and will compromise the results. For example, ocean view, high end custom home, lakeside properties, gated communities, golf course communities and senior developments.

  Even within a community, location may be important. For example, homes that border a golf course within a golf course community should be grouped separately from homes not bordering the golf course.

• Does Redstone's 1004MC conform to UAD ENV file format conventions?

  Yes and Redstone will fill in the form within the ClickFORMS software. Users of other Appraisal form filling software will have to transfer the data into their software's version of the 1004MC form.

MLS Data Questions

• Why doesn't Redstone just go into my MLS and get the information it needs?

  There are hundreds of MLS Systems throughout the United States using numerous different software vendors to manage the local MLS data. Each MLS can only be accessed by a member of the MLS board/service. Consequently, each member needs to access, search and then export the MLS information needed. A limited number of MLS systems have provided a specific MLS export that can be used with Bradford Technologies products. Other MLS Systems need to have a custom export built within the MLS's member account for use with Redstone.

• How do I bring my MLS data into Redstone?

  We will provide you with instructions on how to setup your custom export containing all the fields needed for completing a Redstone Analysis. Click here to complete the form with your MLS information and you will receive instructions on how to set up a custom export in your MLS for use with Redstone.

  If you would like Bradford Technologies to setup your MLS export, please refer to the next questions for more information.

  Once you have setup your MLS for use with Redstone, please refer to the Redstone User Guide's → Process Tab 3: Market Data for more information on how to import your MLS data into Redstone.

• How much does it cost to have Bradford Technologies' MLS Exports team create an MLS export for me?

  The standard cost for the creation of an MLS Export definition is $99. Periodically, a discounted price of $49 is offered when Bradford Technologies introduces new software products. You can order the MLS setup by calling your Sales Representative at 800-622-8727.

• Why do I need to bring in all Sold, Active, Contingent, Expired and Withdrawn listings from my MLS for use within Redstone?

  It's easier to bring in all the potential data needed for the analysis than to have to go back and revise the search. The Regression will use all the sales in the market area and the 1004MC will use all the properties included in the Subject Property market.

• What do I do when there are fields missing from my MLS import?

  Every time an MLS import is brought into Redstone, the data is reviewed by our mapping program to determine if a field name has changed and/or is missing. The missing fields are displayed within a window with a dialogue box appearing below it.

  Make a note in the dialogue box and click the button on the lower left of the window marked, Send Comment to MLS Mapping Team. Needed corrections will be made and you will be notified that you can now proceed with the import function. (We realize the urgency of the situation. Changes are typically made the same business day or the next business day at the longest.)

• How do I replace my current MLS data with new data?

  Simply import a new MLS export. A window will appear asking: Do you want to override the existing data?

  • Click Yes to replace the current MLS data
  • Click No to append the data ( Clicking Yes will will add/append the data to what was previously imported.)
  • Click Cancel to abort the process

Regression Analysis Questions

• How do I perform a Regression Analysis?

  Video training is available by logging into your AppraisalWorld My Office account. Click on the Redstone icon in the My Desktop Software section:

  Click on "Redstone Training" to watch the Redsone training video. You may also download the Redstone User Guide and Regression Overview documents.

  Additional Redstone training materials can be found on our support website.

  Free technical support is available Monday – Friday, 8:00 a.m. to 5:00 p.m. Pacific Time. You may send an email to support@bradfordsoftware.com or click on Request Support under the Help menu in Redstone or call 1-800-662-8727

• How many Sales do I need for a Regression Analysis?

  The greater the number of sales, the greater number of adjustment values can be determined. More than 100 sales are best. A point of diminishing returns can be reached with more than 300 sales. Each market is different.

  For the specified market, it is important to:

  Include all sales for:

  • The same property type (sfr, condo, town house)
  • The past 12-months
  • Contained within the market neighborhood

  Exclude or make into a separate market properties:

  • That are in distress
  • Made up of a specific sub community (gated, golf, senior)
  • Have special attributes that are not accounted for as components of value, (specialized view, quality, condition or location)

  Conversely, these specialized properties can be grouped together for analysis. (A wider geographical area may be needed or expanding the time frame from 12 to 24 months may be needed).

• Why does the Regression Analysis need to include all the sales in the market rather than just those comparable to the Subject Property?

  The Regression Analysis is NOT done for the sake of the Subject Property. Rather it is an analysis of the neighborhood where the Subject Property is located. Certain characteristics are significant when determining the Subject Properties neighborhood marked as defined in previous question above.

  Once outliers and invalid values for specific Components of Value are removed, the results of the Regression Analysis sets the value ranges for each of the Components of Value. Those Components of Value with a p-value of less than 0.05000% are considered statistically significant. The values are then used to calculate the baseline value of the Subject Property and will range from the derived value +/- the standard error.

• I live in a rural location or there aren't that many sales in the area. Will Redstone still work for me?

  There are many types of rural and sparsely populated areas. Properties with added out buildings, horse facilities or specialized agricultural use are not good candidates for regression analysis.

  Acreage properties may be grouped by size to make up a neighborhood grouping. The area may need to be expanded geographically or 24-months of data may be needed.

  Properties less than 1-acre typically fall within a different category than properties with more than 1-acre.

  Depending on the local market, properties with city services may need to be considered separately from properties with wells and septic tanks.

• Why isn't the number of bedrooms a component of value?

  Including the number of bedrooms as a component of value would result in a collinearity issue between bedrooms and Gross Living Area, GLA (Gross Living Area).

"How To" Questions

• How do I select which Redstone Analysis pages I want to add to my appraisal Report?

  1. From the Restone File menue, select "Create Adobe PDF".
  2. Select your .pdf protection preferences.
  3. Check/uncheck to include/exclude pages to be exported.
  4. Click the "Create PDF" button.

  

  Locate your PDF file in Documents Library/My Redstone PDF files.

• How does Redstone calculate time adjustments?

  Using Appraisal Institute Guidelines, the sales included in the 1004MC are spread across the calendar year. The Median Sales Price for each month is determined. The Median Price for the Current Month of the Appraisal Effective Date minus the Median Sale Price of the Month for the Sale of the Comparable Property divided by the Median Sale Price for the Sale of the Comparable Property to determine the percentage adjustment.

  A = $110,000 Median price of the current month for the effective date of the analysis
  B = $100,000 Median price of the comparable for the month sold =
  C = $10,000 A - B
  A – B = C/A = % adjustment $110,000 - $100,000 = -$10,000/$110,000 = 9%

• How do I remove time adjustments if I do not want to include them in my Redstone analysis?

  The fields displaying the comps and the adjustments can be edited. The information in each field may be deleted. To delete the twelve month time adjustment graph, right click it to select it and press the delete key on the keyboard.

• Why are there property selection filters before the Subject Market Area and Comp Selection and how do I use them?

  All sales are considered for the Regression analysis. For the 1004MC, only properties that would be considered by the buyer are needed. The first sort is used to refine the database to meet this criteria. After the Subject Market is defined, the available sales are then further filtered to provide a list of potential sales comps.

  The Ranking tool provides the tools needed to sort the comps based on the Appraiser's market criteria to identify the most likely comps.

  Comps can be further evaluated by double clicking the property description on the table to open a display comparing the potential comp to the Subject Property. Additional MLS marketing information is provided and a Google Street View is shown if available.

  Updated reports are then available under the Reports tab.

ClickFORMS Integration

• How do I add my Redstone Analysis to ClickFORMS?

  Finish your Redstone report first, then simply click the edit menu and select "Copy Redstone Analysis"

  

  In ClickFORMS open the report you would like to paste your Redstone analysis or from a blank ClickFORMS Template, go to the Edit menu and select "Paste Redstone Analysis".

  

• Do the comps that I select in Redstone populate the Sales and Listings grids in ClickFORMS?

  Yes. ClickFORMS users can transfer the selected Comparable Sales and Listings comparables to the ClickFORMS Sales and Listings Grid. If more than 3 comparables are being transferred, add an extra comps page before making the transfer.

• Is the information in UAD format?

  Most MLS System Data is in UAD format. If you find that your data is not in UAD format, please contact christak@bradfordsoftware.com to update our MLS data.

Using Redstone with other From Filling Software

• How do I add a Redstone Analysis into ACI and a la mode reports?

  Click the PDF icon under the report tab and select the pages to include in the PDF. Import the PDF into your appraisal software using the import PDF function to create an addendum. Note: the 1004MC page will be an image. The information contained on Redstone's 1004MC page will need to be copied and pasted into your appraisal software's 1004MC UAD form in order to convert it to an ENV format.

  

  PDF files are automatically saved in the Documents Library under My Redstone PDF files.

Troubleshooting

• Do I have to start a Redstone analysis over and pay again when I make a mistake on my MLS import or in the analysis?

  No. As long as the address and the geo code for the subject property is correct, everything else can be adjusted or replaced. For example:

  • Neighborhood boundaries can be reset under the Coverage Area tab.
  • Subject Property information can be changed under the Subject tab.
  • MLS data can be increased or replaced under the Market Data tab.
  • Regression, market analysis and comp selection can be re-run under the Analysis tab.
  • Updated reports are then available under the Reports tab.

• If I have to go back into a previous Redstone analysis to make changes or add MLS data, will I be charged for another analysis?

  There is no charge for changes made on a timely basis after the completion of a Redstone analysis that do not require changes to the Subject Property address.

  • Neighborhood boundaries can be reset under the Coverage Area tab.
  • Subject Property information can be changed under the Subject tab.
  • MLS data can be increased or replaced under the Market Data tab.
  • Regression, market analysis and comp selection can be re-run under the Analysis tab.
  • Updated reports are then available under the Reports tab.

• I just started an analysis and my computer locked up. What do I do?

  The dialogue box for saving the analysis file is displayed automatically. Sometimes it will appear behind the main window and you do not see it. There are two methods to try to get it to come to the front:

  • For Windows 8, 10 and 11 click the bottom right corner of the screen to get the desktop to appear. Click on the Redstone icon in the status bar and the main window should appear with the save dialogue box in front of it.
  • For Windows 7 and XP, hold down the Alt and Tab keys at the same time to cycle through the open screens. Try to locate a small dialogue box and select it. If you do not see it, select the Redstone screen.
  • If you are unable to save the analysis, contact support for assistance. If possible, do not close out of the analysis.