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e2Value ® Mainstreet ® Residential Training Guide Copyright e2Value ® , Inc., 2004-2010. All Rights Reserved. Rev 5/2010 1 e2Value ® Mainstreet ® Residential Estimator Guide January 2009 e2Value ® , Inc. P.O. Box 3518 Stamford, CT 06905 Voice: 203.975.7990 Fax: 203.975.7861 Email: [email protected]
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Page 1: e2Value Mainstreet Residential Estimator Guide January 2009 · Introduction to e2Value Welcome to e2Value’s Expert Valuation System (EVS ) Mainstreet Residential Estimator. EVS

e2Value® Mainstreet

® Residential Training Guide

Copyright e2Value®, Inc., 2004-2010. All Rights Reserved. Rev 5/2010

1

e2Value® Mainstreet® Residential Estimator Guide January 2009 e2Value

®, Inc.

P.O. Box 3518 Stamford, CT 06905 Voice: 203.975.7990 Fax: 203.975.7861 Email: [email protected]

Page 2: e2Value Mainstreet Residential Estimator Guide January 2009 · Introduction to e2Value Welcome to e2Value’s Expert Valuation System (EVS ) Mainstreet Residential Estimator. EVS

e2Value® Mainstreet

® Residential Training Guide

Copyright e2Value®, Inc., 2004-2010. All Rights Reserved. Rev 5/2010

2

Table Of Contents

Introduction to e2Value ............................................. 3

Using the EVS .......................................................... 3

How EVS Works ................................................... 3 New Versus Reconstruction Cost ............................ 4 Bringing It All Together ................................................ 4

Starting an Estimate .................................................... 5 Locale .......................................................................... 6 Square Footage .......................................................... 7

Living Area ................................................................ 7 Additional Areas ...................................................... 7

Architectural Style ...................................................... 8 Type of Construction .................................................. 9 Construction Quality .................................................... 9 Physical Shape ........................................................ 10 Primary Exterior ....................................................... 10 Primary Roof Covering ............................................. 11 Renovations .............................................................. 11 Actual Cash Value .................................................... 11 Unique Items ............................................................. 11 Other Structures ........................................................ 11 Photos ...................................................................... 11 Saving/Emailing/Downloading Estimates .................. 12

Saving .................................................................... 12 Emailing .................................................................. 13 Downloading ........................................................... 13

Square Footage Helper ............................................ 14 Frequently Asked Questions .................................... 15 Appraisal Quiz .......................................................... 16 Answer Key .............................................................. 24 Agent’s Worksheet ................................................... 25 Mainstreet is a registered trademark of e2Value, Inc. EVS is a trademark of e2Value, Inc.

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e2Value® Mainstreet

® Residential Training Guide

Copyright e2Value®, Inc., 2004-2010. All Rights Reserved. Rev 5/2010

3

e2Value® Mainstreet® Residential Guide

Introduction to e2Value

Welcome to e2Value’s Expert Valuation System (EVS) Mainstreet Residential Estimator.

EVS approaches the valuation process as would a highly experienced construction specialist, appraiser or loss control specialist. The system utilizes a knowledge-based approach to access and analyze the data needed to create a replacement cost.

To make it easy to use and consistently accurate, we have created a user-friendly interface (GUI) over a highly sophisticated logic architecture. This arrangement requires the user to answer only a few simple questions while the system applies its extensive logic architecture and proprietary algorithms to deliver a comprehensive replacement cost with record efficiency.

Our estimates, generated via our proprietary EVS logic and algorithms, use public and private data sources for information on building costs and architectural and construction standards. The final valuation is based on zero-based costing and is derived from a consistent and reputable set of logical rules.

Using EVS

People using EVS usually first tell us it looks and works differently from anything they have used before. They are right. Then users tell us they can’t believe how easy and quick EVS is.

The main difference is in the number of questions our system asks. Most users have spent their lives counting bathrooms, fireplaces, lights and windows, and measuring cabinetry, molding, etc. Our system uses advanced logic architecture and algorithms to eliminate many of the redundancies in prior systems.

For years, insurance professionals have easily valued automobiles using various printed and now Web-based pricing guides. Users can quickly look up a car’s value by its model, make and year, then add or subtract for options. Using EVS is similar to using those price guides.

EVS asks for a home’s style, age and make because these factors have the most influence on the replacement cost. In any area in the United States, it is easier (and therefore less expensive) to find builders to replace small homes with simple floor plans, using materials that are easily obtained at any building supply center. Conversely, it is more difficult (and therefore more expensive) to find builders with the building knowledge, access to materials and financial stability to replace large or specialized homes such as a Queen Anne Victorian or an architectural showcase home.

How EVS Works:

EVS uses zero-based costing. That means the system does not assume anything about a home or area until the user has described both. After the user has described the home—for example, a 1,000 sq. ft. ranch built in 1999 with vinyl siding and a composition shingle roof, in a certain city and state—then the system develops an appropriate cost based on the information provided. It is just like using a cost guide for a used car, e.g., a 2001 Hyundai Elantra™ with standard transmission. Until you enter all the relevant information, the guide will not give you the correct cost.

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e2Value® Mainstreet

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Another home in the same city and state, built with the same materials, can be drastically different in price even if just two features, like the year the home was built and the type of home, are changed. An 1880 American Four-Square will cost more to replace than a contemporary home, even if the size and materials remain the same. Similarly, the replacement cost of a 1912 Oldsmobile™ will be dramatically different from that of the Elantra, even though it uses similar materials and pieces.

New Versus Reconstruction Cost:

Our figures account for all parts of rebuilding a home—not the cost of the home new, the reconstruction cost. We include architect’s fees, designer’s fees, permits, engineering fees, etc. We do not include debris removal, as that cost cannot be predicted accurately. Customers are free, however, to add debris removal costs based on their individual experiences.

We use reconstruction costs because those, typically, are what insurance companies will pay at the time of a claim. Builders that put up thousand-home developments do not have the interest, nor is their business structured, to build one house at a time. Large developers receive the benefit of bulk buying and economies of scale. They also have the ability to wait for deliveries and to time the shipments to obtain the best pricing. Typically, insurance companies do not have the luxury of buying in bulk or waiting.

As an illustration, you can apply the same principle to the buying of clothes. Large retailers carry a certain quality of apparel at deep savings, while department stores offer a different grade of clothes at a higher price. If you need a polo shirt, the choices are infinite. Sales run monthly; you can shop at outlets or regular stores. However, if you need to replace a shirt immediately, your choice of retailers is limited and the price tends to be higher. Insurance companies often need to replace homes immediately and hence have limited places to shop.

Additionally, when a developer sells many homes, he or she makes money on the land development and the house. The reconstruction builder does not own the land and so cannot make money from selling it. Therefore this builder must earn a higher profit from the reconstruction of the home.

For these reasons, and depending on the home, reconstruction costs can exceed new construction costs by 10% – 25%, and sometimes more.

Bringing It All Together:

EVS has consistently been accurate for homes with values ranging from a few thousand to tens of millions of dollars. Our customers’ claims departments and builders support this assertion. Our numbers have been within 3% of values determined by construction experts. The homes have been of extremely or moderately high value, old, new and all ages in between. Companies have used EVS to calculate home replacement costs for the average two-bedroom starter home up to the homes of Frank Lloyd Wright.

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e2Value® Mainstreet

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5

Starting an Estimate

Once you have logged into the system, click on the icon Mainstreet Pro icon or the title of the estimator (Mainstreet).

You will be asked to choose a type of estimator. Depending upon your account one or more of the following will be available. Choose:

Residential - Use for homes of any size or value. Requires basic information about the home, such as square footage, year built, architecture type and roof covering.

Residential Pro - Same as Residential but displays the cost per square foot and allows user to adjust that cost.

Exterior Residential - Use for homes of any size or value. Requires the same information as Residential plus information about exterior features.

Full Residential - Typically used for high-value homes. Requires the same information as Residential plus details about both the exterior and the interior of the home.

A&A (Additions & Alterations) - Use for condominiums, co-ops or townhomes, where the insured is not responsible for the exterior walls, roof and foundation. Requires basic information such as square footage, year built and number of rooms.

A&A Pro - Same as A&A but displays the cost per square foot and allows user to adjust cost.

Full A&A Typically used for high-value condos where the insured is not responsible for exterior walls, roof and foundation. Requires the same information as A&A plus additional interior details such as floor coverings, wall coverings, features of the baths, kitchen, etc.

Additional Structures - Use for structures not physically attached to the main dwelling

You will then be asked to ―Start entering information for a new estimate‖ or ―Use a property already in my portfolio.‖ Click the button next to the choice you desire, then click ―Next‖.

Fill in the information as asked. To navigate in the estimator, use the Tab key, the mouse or both. Typing the first letter of the item in the drop-down box will highlight a choice within the drop-down box.

As you move through the estimate click “Save and Continue” to save the information entered.

Your progress is monitored by the links to the left of the information boxes. Sections without information are light gray, the current section is highlighted red and sections with saved information are dark gray. You may go back and forth between sections in any order. Once a screen has been saved, the estimate is placed in your portfolio.

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e2Value® Mainstreet

® Residential Training Guide

Copyright e2Value®, Inc., 2004-2010. All Rights Reserved. Rev 5/2010

6

Locale

The building costs developed by e2Value’s EVS estimator are based on building costs in five-digit zip code areas. However, zip codes are designed to help the U.S. Postal Service deliver mail and are not neatly divided around home building costs. A qualifier is therefore needed to further describe the area within a zip code in which the home is located. In EVS the locale describes the particular part of a zip code where the home is located.

When using EVS try not to ―over think‖ choices. The simplest, easiest answer is usually the correct one. Also, already having an answer in mind when looking for the closest term on EVS has proven to be the most efficient way to complete the estimator. Some terms that you may be familiar with have several different names in the drop-down boxes but mean the same thing. They are listed separately to reflect individual and regional interpretations.

When choosing a locale for a particular home, choose the one best descriptor or the few descriptors that apply.

Most homes in the U.S. are best defined as being in a “suburban” or “town” locale.

However, if a different locale better describes the neighborhood surrounding the home, choose the most specific descriptor. For example, if a home in Dallas, Texas, is in a typical suburban setting, surrounded by other homes and not commercial buildings, the home is in a Suburban locale. Even though Dallas is a Large City, the most specific description of the home’s location within a zip code is Suburban. If the same home is also located within a Gated Community, then the best, most specific descriptor is Gated Community, though Suburban may also be checked.

For more definitions of locales, please visit the locale section of our glossary. Here are a few common definitions of different locales as defined by e2Value for EVS:

City, Large – Within a large metropolitan area surrounded by commercial buildings, both large and small, where parking is limited and yards are small, if any. Example: a home or townhome located in New York City, NY; Chicago, IL; Los Angeles, CA; or Houston, TX

City, Medium – Within a medium metropolitan area surrounded by commercial buildings, both large and small, where parking is limited and yards are small, if any. Example: a home or townhome located in downtown Kansas City, MO; Cleveland, OH; San Jose, CA; or San Antonio TX

City, Small – Within a small metropolitan area surrounded by commercial buildings, both large and small, where parking is limited and yards are small, if any. Example: a home or townhome located in downtown Lancaster, PA; Topeka, KS; Akron, OH; Fresno, CA; or Amarillo, TX

Rural – Located in a country setting or an area related to agriculture within 25 miles of a city or town where the building supplies would come from. The appropriate locale will vary on a regional basis. The mileage noted above is just a guide and may not precisely apply in all cases.

Suburban – Located in a typical residential area or neighborhood where houses are in close or relatively close proximity to each other, close to or around a city, town or village. Most homes are best described by this locale.

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e2Value® Mainstreet

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7

Square Footage

Including a reasonable estimate of a home’s living area is critical to establishing a good valuation for the home. The system is unable determine how much material will be required to reconstruct the home without this critical information.

Basements, garages, porches, decks, and more can add 30% - 50% to a home’s replacement cost. However, the most prevalent and costly area is usually the Living Area. A reasonable estimate can be obtained even if the user only knows the living area of a home.

If you do not know the square footage of the home, please use our “Square Footage Helper” on page 14 of this manual.

Living Area:

The living area is defined as the predominant area of the house that has full stories and is being described in the estimator. Examples are areas of habitation located on the first, second, or other floors with full-height ceilings and exterior walls usually higher than 7 ft.

Additional Areas:

All areas within the home that are not living areas are defined as additional areas. Examples are the areas not depicted as ―Living Area‖ in the diagram below.

To add ―Additional Areas,‖ select the drop-down box, type in the square footage and year built (if different from the year displayed in the box), then click ―+ Add‖ to add the area.

―Save and Continue‖ will not add items.

Examples of various areas are:

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e2Value® Mainstreet

® Residential Training Guide

Copyright e2Value®, Inc., 2004-2010. All Rights Reserved. Rev 5/2010

8

Architectural Style

The Architectural Style is a very important aspect of the e2Value system. You wouldn’t insure a car without knowing its make and model, so why insure a house without knowing its construction style? The style of home tells the system a great deal about the house. It tells the system how many floors are most likely in the home, the window types generally associated with it, construction practices, architect’s and builder’s fees, etc.

e2Value’s Architectural Style list is often intimidating if you are unfamiliar with architectural styles. However, there is an easy approach to determining the architectural style of the home you are estimating:

1. Ask your homeowner what style of home they have. Nine times out of ten, the homeowner knows this.

2. If the homeowner doesn’t know, it’s OK. Most areas in the U.S. only have 5–7 prevalent architectural styles. A majority of homes are one of the following:

American Four Square

Bungalow

Bi-level/Split Level/Raised Ranch

Colonial

Contemporary

Ranch

Victorian

Remember, the easiest way to find out the style is to just ask the owner!

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9

Type of Construction

Each home has a basic structure type. Choose the most prevalent type of construction in the home from the list, even if the home has been altered or changed. A typical type of construction is wood frame, which is listed as ―Framing, Wood‖ and ―Wood Framing‖ in the estimator.

Remember, e2Value is a descriptive system. Every selection you make helps paint the picture for the system. Many things may seem redundant, but in reality, they aren’t.

For example, you may select ―veneer, brick‖ as the type of construction. You are then asked for the type of exterior, and you notice ―veneer, face brick‖ is a choice. Shouldn’t the system know that it is brick veneer? The answer is NO. The system needs to know what type of brick constitutes the brick veneer.

Construction Quality

Construction Quality is consistently the most frustrating aspect of any valuation system. It is also one of the most important. Everyone’s definition of quality is different, but e2Value attempts to give some guidance in the process of quality selection.

e2Value offers seven Construction Quality categories, ranging from Basic/Economic to Opulent/Museum Quality. The quality of the home is based on a comparison to all homes in the United States of America.

The Construction Quality categories are:

Basic/Economic – Homes of this quality incorporate the simplest design and materials. This type of construction is typical of manufactured housing, cabins and cottages.

Modest/Fair – Materials and construction for this house exhibit moderate craftsmanship or a low degree in quality. These houses are small, plain and unpretentious. They also have little or no ornamentation or decoration.

Average/Standard – Materials for this house would typically be found at a Home Depot or other major building material store chain.

Above Average/Upgraded – A house of this quality is sometimes called a ―Spec House,‖ usually an upgraded version of a builder's plan with high quality materials. A few of the rooms or portions of the house are customized for the owner.

Expensive/Custom – Materials for this house would be purchased at boutiques or specialty stores. Designers are usually involved. The entire home is ―customized‖ for the owner.

Very Expensive/Luxury – Materials for this house may be acquired from major cities in the U.S. Architects and designers may be flown in to work on the house.

Opulent/Museum Quality – This is a house typical of the super wealthy or major celebrities. Architects and artisans may be hired from around the U.S. or other countries to design and build the house.

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e2Value® Mainstreet

® Residential Training Guide

Copyright e2Value®, Inc., 2004-2010. All Rights Reserved. Rev 5/2010

10

Physical Shape

This question asks the user to determine the shape of the home when viewed from above. It is also known as the ―footprint‖ of the home. Here are a few examples: Rectangular: Square: Rectangular with an angled wing: L - shaped, U - shaped and T – shaped: Complicated:

Primary Exterior

There are many types of exterior coverings for a home, but every home has a predominant exterior wall covering.

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Primary Roof Covering

There are many types of roof coverings for a home, but as with exterior wall coverings, every home has a predominant roof covering.

Renovations

The question refers to whether or not the house has been completely gutted. We are not asking if there is a renovated kitchen or new paint and carpet. We are asking if the ―guts‖ of the house have been completely changed to new construction. An example would be a 1920 house that has been completely renovated, removing all the original plaster, electric, plumbing etc., replacing everything with modern items.

Actual Cash Value

This section is optional. Many insurance carriers do not offer full replacement cost coverage. Instead they offer Actual Cash Value coverage, which is a depreciated amount. If your carrier needs an Actual Cash Value estimate, fill out this section. However, if it is not needed, just hit ―Save and Continue.‖

Unique Items

This section is also optional. Sometimes you may need to add an item that would not be typical for that house, or you may want to make your customer happy by noting something of significance to them, such as their grandmother’s chandelier.

To add a unique item, input the item and its actual or estimated cost in the appropriate boxes, then click ―+ Add‖ to add the item. ―Save and Continue‖ will not add items.

Other Structures

Use this section if the home has ―other‖ or detached structures on the property you wish to value. Describe the structure via the required fields, then click ―+ Add Structure.‖ Once all the structures have been added (by clicking ―+ Add Structure‖ for each structure), click ―Save and Continue.‖ When you calculate the value of the home, the other (detached) structures will be included and the value for each structure will be displayed.

Photos

You do not have to add pictures. This section is here only for your convenience, as people often want to place a picture in the estimate for documentation. We offer two methods for photo upload: HTML and Java. Both methods will allow you to add a total of 20 photos. With the new Java version you are able to add multiple photos at once by holding the control key down while selecting the photos from your computer or camera folder.

To add a picture, click ―Browse‖ or ―Add‖ depending upon which method, HTML or Java, that you’ve chosen. Select the picture from your hard drive or camera. Once the photo(s) are selected, press the ―Upload‖ button. Then press ―Save and Continue.‖

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Saving/Emailing/Downloading Estimates

Saving:

Information is saved by clicking ―Save and Continue‖ or ―Calculate.‖ As soon as you select ―Save and Continue,‖ the estimate is saved in the system.

Complete the estimate, answering the applicable questions on each screen. When all the information has been entered, the estimator takes you to the ―Preview‖ page.

Review the fields. If they were entered to your satisfaction, click ―Calculate.‖ The valuation will be displayed in the ―Residential Estimator Results‖ page.

The estimate can be printed by clicking on the ―Printable Version‖ icon at the top of the screen.

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Emailing:

If you would like to email the estimate to your client or the underwriter, click ―Email.‖ A window will appear asking for the email address of the recipient, your email address, a subject, any additional information you’d like to add and will allow you to attach additional files, if needed. Fill out the items and click ―Send.‖

Downloading:

If you wish to download a file, simply click ―Download.‖ A new window will open. Some users will be offered format options such as Microsoft® Word, HTML, RTF (which is Microsoft

® Word-friendly) or

PDF. Select the format, if offered, and ―Download.‖ In the File Download dialog box click on Open or Save and select a location on your computer to save the file.

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Square Footage Helper

Use the following chart to help estimate the size of a home even if you just know the number of bedrooms or bathrooms. You can also estimate the square footage of a garage by using the chart below even if you only know the number of cars that fit in the garage.

Multiply the figures by the number of either bedrooms or bathrooms, for a square footage estimate of a home’s living area.

Example: If a client knows their 1922 home has 3-1/2 baths, the calculation is as follows: 3 (bathrooms) x 1000 (In the above chart, since this is a 1922 home, it is ―prior to 1945.‖) + 1 (half bath) x 500 (from the chart above) = 3,500 sq. ft. of Living Area Plus a two car garage, 2 (cars) x 220 (from the chart) = 440 sq. ft. of Garage Area.

The same numbers for a home built in 1965 would yield the following estimate: 3-1/2 baths, 2-car garage 3 x 900 + 1 x 450 = 3,150 sq. ft. of Living Area 2 X 250 = 500 sq. ft. of Garage

Homes built prior

to 1945 Homes built after 1945

1000 900 per full bath for the Living Area sq. ft.

500 450 per half bath for the Living Area sq. ft.

650 750 per bedroom for the Living Area sq. ft.

220 250 per car for the Garage sq. ft.

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Frequently Asked Questions

Q. Number of bedrooms, bathrooms, fireplaces, air conditioning – Why don’t you ask for the number of bedrooms, bathrooms or fireplaces, or if there is air conditioning?

A. We believe technology should make your life easier. Therefore, our system assesses the appropriate charge for the bedrooms, bathrooms, fireplaces and air conditioning based on the user’s inputs for the size, quality, style and location of the home. Even though the system appears simple, it is highly complex and every estimate consists of hundreds of calculations. Q. Architectural Styles – With so many choices how do I know which architectural style to use? A. You need to determine the home’s style before starting an estimate. There is an easy approach to finding out the architectural style of the home you are estimating:

Ask your homeowner what style of home they have. Nine times out of ten, the homeowner knows this.

If the homeowner doesn’t know, it’s OK. Most areas in the U.S. only have 5–7 prevalent architectural styles. Please review our architectural styles in the Glossary section of the Help Center.

Call or email us. We’d be happy to help you. Q. Living Area – In other systems we enter the ground floor area and the system calculates the living area based on the number of stories. What do we do in the e2Value system?

A. Our system is looking for the entire square footage of the house (1

st and 2

nd floors). Estimating a

home's cost based on ground floor area alone can be a highly inaccurate practice since second floors sizes vary. Q. Additional Areas – What if I don’t know what size the additional areas are? A. Here are some methods for estimating.

For garages refer to the ―Square Footage Helper‖ in the Mainstreet Residential worksheet or on page 14 of this manual

For ½ stories or finished attics, use 60% of the living area of the story below

For ¾ stories, use 75% of the living area of the story below

For basements, use the square footage of the first floor living area

For other areas such as porches, decks etc, use your best estimate Q. E&O – I’m worried about E&O exposure because I do not have the EVS formula.

A. The e2Value estimator is a highly complex system that uses technology to yield replacement cost accuracy down to the level of individual zip codes for a comprehensive range of specific features.

Our estimates, generated via our proprietary EVS logic and algorithms, use public and private data sources for information on building costs and architectural and construction standards. The final valuation is based on zero-based costing and is derived from a consistent and reputable set of logical rules.

Our system ensures that every estimate is performed in a standardized manner that actually reduces your E&O exposure!

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Take the e2Value Quiz!

Please take the e2Value Quiz that is on the following pages to see how easy e2Value is to use.

The answers are at the end of this manual.

Good luck!

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(Quiz Example 1)

1. Locale – What is the best description of this house’s locale (location within a zip code)? Rural

Suburban City, Small City, Large

2. Square Footage – How would you find out the square footage of this house?

Ask the homeowner for living area, basement, garage, porch, etc. Ask the homeowner for # bedrooms/baths, # of cars, and use the e2Value guide.

Use the information from a previous appraisal. All of the above, but use the one that is easiest to obtain.

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Complicated

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(Quiz Example 2)

1. Locale – What is the best description of this house’s locale (location within a zip code)?

Rural Suburban

City, Small City, Large

2. Primary Roof Covering – What best represents the primary roof covering?

Wood Shake Asphalt Shingle

Clay Tile Tar and Gravel

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Contemporary

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(Quiz Example 3)

1. Locale – What is the best description of this house’s locale (location within a zip code)?

Rural Suburban

City, Small City, Large

2. Square Footage – How would you go about getting the square footage of this house?

Ask the homeowner for living area, basement, garage, porch etc. Ask the homeowner for # bedrooms/baths, # of cars, and use the e2Value guide.

Use the information from a previous appraisal. All of the above, but use the one that is easiest to obtain.

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Complicated

Page 20: e2Value Mainstreet Residential Estimator Guide January 2009 · Introduction to e2Value Welcome to e2Value’s Expert Valuation System (EVS ) Mainstreet Residential Estimator. EVS

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(Quiz Example 4)

1. Locale – What is the best description of this house’s locale (location within a zip code)?

Rural Suburban

City, Small City, Large

2. Square Footage – How would you go about getting the square footage of this house?

Ask the homeowner for living area, basement, garage, porch etc. Ask the homeowner for # bedrooms/baths, # of cars, and use the e2Value guide.

Use the information from a previous appraisal. All of the above, but use the one that is easiest to obtain.

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Complicated

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(Quiz Example 5)

1. Locale – What is the best description of this house’s locale (location within a zip code)?

Rural Suburban

City, Small City, Large

2. Square Footage – How would you go about getting the square footage of this house?

Ask the homeowner for living area, basement, garage, porch etc. Ask the homeowner for # bedrooms/baths, # of cars, and use the e2Value guide.

Use the information from a previous appraisal. All of the above, but use the one that is easiest to obtain.

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Complicated

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22

(Quiz Example 6)

1. Locale – What is the best description of this house’s locale (location within a zip code)?

Rural Suburban

City, Small City, Large

2. Square Footage – How would you go about getting the square footage of this house?

Ask the homeowner for living area, basement, garage, porch etc. Ask the homeowner for # bedrooms/baths, # of cars, and use the e2Value guide.

Use the information from a previous appraisal. All of the above, but use the one that is easiest to obtain.

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Contemporary

Page 23: e2Value Mainstreet Residential Estimator Guide January 2009 · Introduction to e2Value Welcome to e2Value’s Expert Valuation System (EVS ) Mainstreet Residential Estimator. EVS

e2Value® Mainstreet

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23

(Quiz Example 7)

1. Locale – What is the best description of this house’s locale (location within a zip code)?

Rural Suburban

City, Small City, Large

2. Square Footage – How would you go about getting the square footage of this house?

Ask the homeowner for living area, basement, garage, porch etc. Ask the homeowner for # bedrooms/baths, # of cars, and use the e2Value guide.

Use the information from a previous appraisal. All of the above, but use the one that is easiest to obtain.

3. Architectural Style – What style best represents this home?

American Four-Square Contemporary Bungalow Ranch Bi-level/Split Level/Raised Ranch Victorian Colonial

4. Type of Construction – What type of construction best represents the framing for the house?

Framing, Wood Veneer, Brick

Brick Masonry Stone Masonry

5. Construction Quality – What quality best represents the overall quality of the home?

Basic Average

Above Average Expensive

6. Physical Shape – Which shape best represents the overall shape of the living area of the home (if

viewed from an airplane)? This is also known as the footprint. Rectangular

Square L - Shaped Complicated

Page 24: e2Value Mainstreet Residential Estimator Guide January 2009 · Introduction to e2Value Welcome to e2Value’s Expert Valuation System (EVS ) Mainstreet Residential Estimator. EVS

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Answer Key:

Example 1. 1. Suburban, 2. All of the above, 3. Victorian, 4. Stone Masonry, 5. Expensive, 6.

Complicated 2. 1. Suburban, 2. Asphalt Shingle, 3. Contemporary, 4. Veneer, Brick, 5. Above Average,

6. Contemporary 3. 1. Suburban, 2. All of the above, 3. Colonial, 4. Framing, Wood, 5. Above Average, 6.

Rectangular 4. 1. Suburban, 2. All of the above, 3. American Four-Square, 4. Framing, Wood, 5. Above

Average, 6. Square 5. 1. Suburban, 2. All of the above, 3. Bungalow, 4. Framing Wood, 5. Above Average, 6.

Rectangular 6. 1. Suburban, 2. All of the above, 3. Contemporary, 4. Framing, Wood, 5. Above Average,

6. Contemporary 7. 1. Suburban, 2. All of the above, 3. Bi-level/Split level/Raised Ranch, 4. Framing Wood,

5. Average, 6. Rectangular

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Residential Worksheet

General Information Name: ___________________________________

Address: ___________________________________

___________________________________

City: ___________________________________

State: __________________Zip Code:_________

Locale: ___________________________________

Policy Information:

Coverage Amount: ____________________________

Policy Number: ____________________________

Year Built: ____________________________

Totally Renovated in last 40 yrs? Yes I No

Listed on Historic Registry? Yes I No

Structure Information Architectural Style: ___________________

(ex. ranch, bi-Ievel, contemporary)

Type of Construction: ___________________ (ex. wood frame, brick veneer)

Quality: Basic I Economic

Modest / Fair Average I Standard Above Average I Upgraded Expensive I Custom Very Expensive I Luxury Opulent I Museum Quality

Shape: ___________________ (ex. square, rectangular, L-shaped)

Exterior Walls: ___________________ (ex. wood siding, brick veneer)

Roof Covering: ___________________ (ex. composition shingle, slate)

Areas Total Living Area: ______________________

(1st and 2

nd Floor)

Basement: Size: ______________________

Finished Partially Finished Unfinished

Below Grade Breakaway Walls

Walk-out or Garden Level

Garage: ______________________ Attached Basement Built-in

Porches: Covered: _______________________ Open: _______________________ Screened: _______________________

Decking: _______________________ Other: _______________________

Square Footage Helper Use the following chart to estimate the size of a Mainstreet home if you only know the number of bedrooms or the number of bathrooms and the number of cars in a garage.

Age of House and Sq. Ft. per

Area

Area of Home

< 1945

>1945

1000 950 Per Bathroom

500 450 Per 1/2 Bathroom

650 750 Per Bedroom

220 250 Per Car for Garage

Additional Comments:


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