Using the 1004MC Worksheet

This document explains how to load our free 1004MC Worksheet and use it in an open report.

Document 6017  |  Last updated:  08/29/2017 RR2

We provide this free worksheet as a courtesy to our appraisers, but our support for it is limited.  For an easier and more versatile solution for the 1004MC, click here to check out Titan Analytics ‑ our powerful market analysis tool.

Click here to view frequently asked questions about the 1004MC Worksheet

Question:

How does the spreadheet determine which records are considered "active"?

Answer:

This is determined by block D in the 1004MC Worksheet (the orange one).  Make sure you've updated block D with your MLS value for active properties.

If your MLS consistently uses the same "active" values, update block D with those values before making any other changes.  Then, save the updated spreadsheet template to avoid retyping this information each time.
Question:

What if the MLS has more than one "active" value, or the REALTOR entered it incorrectly?

Answer:

There's room for up to 8 values for Active and 8 values for Pending.  If there are more than 8 values, the MLS data must be corrected to have 8 or fewer values to indicate active and/or Pending.

Keep in mind that ACT and PEND are entered as default values on the 1004MC Worksheet.  These values can be replaced to make room for an additional value.
Question:

What is the "pending" status used for in the spreadsheet?

Answer:

The "pending" status is used to exclude records from the active listings count.

Question:

How does the spreadsheet calculate a "closed" status when there isn't a cell to indicate a "closed" status?

Answer:

Any entry that doesn't match one of the values entered for active or pending statuses is used to calculate closed sales.

Question:

Why does the template handle calculation formulas a certain way?

Answer:

The guidelines specified by Fannie Mae were used when the Worksheet template was created.  Those guidelines are available at:  https://www.fanniemae.com/content/faq/​appraisal‑property‑report‑faqs.pdf

Question:

Why are linked fields not created when importing the TOTAL1004MC.xls?

Answer:

There is a corresponding TOTAL1004MC.xml file that was extracted along with the TOTAL1004MC.xls when you downloaded the 1004MC Worksheet.  This XML file must be saved in the same folder as the XLS file.  If necessary, just follow the instructions below to redownload both the XLS and XML and be sure to make a note of the destination folder before clicking Extract.

  1. Click here to download the 1004MC Worksheet.  Then, run the file you downloaded and extract it.

    Download and Extract

  2. With a report open, go to the Worksheet PowerView.

    Worksheet PowerView

  3. Click Open an existing Worksheet in the toolbar.

    Open an existing Worksheet

    The 1004MC Worksheet isn't compatible with WinTOTAL Aurora because TOTAL's Worksheet tools are newer and more powerful than Aurora's are.  Aurora users can, however, create their own 1004MC Worksheet by doing the math in Excel and then importing those results as an Aurora Worksheet.
  4. Locate the TOTAL1004MC file you extracted in step 1, select it, and click Open.

  5. If you are using the 1004 URAR [UAD] form in your report, the 1004MC Worksheet is already linked to the appropriate fields in your report, so when the Worksheet loads, the data is populated automatically.

    If you are using a different form, or the non-UAD version of the 1004 URAR, select the Effective Date field in your report, select the Effective Date cell in the 1004MC Worksheet, and click Link Field in the Worksheet toolbar.

  6. Paste your MLS data in the appropriate section of the Worksheet by right-clicking the first empty cell (A24) and selecting Paste from the drop‑down menu.

    It is crucial that the columns in your MLS data file match the columns in the 1004MC Worksheet before copying and pasting.  If the columns don't match exactly, the Worksheet won't calculate the data correctly.
  7. Choose your trend options in sections E and F.  Place an X next to Most recent period (0-3), Starting period (7-12), or 12 month average to indicate what is being compared against predicted values in section E.  Then, set your percentage thresholds for increasing, stable, and declining in section F.

  8. If necessary, adjust the abbreviations used by your MLS for Active and Pending in block D on the right.  In our example, we've entered ACT for Active and PEND for Pending.

  9. Be sure to save the 1004MC Worksheet as a TOTAL Worksheet by clicking Save current worksheet in the toolbar so that it is easily accessible the next time you want to use it in a report.

    Save current worksheet

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