Background
Residential Estimator 7 (RE 7) is the latest step in the evolution of the
Residential Estimator program, first released by Marshall & Swift
in 1984. It is based on the square foot method in the Residential Cost
Handbook, published by Marshall & Swift for over 65 years.
The
main features of Residential Estimator 7 are:
- Updated quarterly
- Localizes using U.S. ZIP Codes or Canadian Postal
Codes (Canadian new in RE 7)
- Trending (indexing) of costs from 1975 to present.
- Includes four methods for calculating depreciation:
Standard Marshall & Swift method (with and without a condition adjustment),
a modified Marshall & Swift method in which you enter the typical
life, age/life (straight line) and user-entered depreciation percentages.
- Can depreciate individual components separately (new
feature in RE 7).
- Includes overall assessment percentage, separate
building and land assessment percentages.
- Allows rounding of assessed values (new feature in
RE 7)