Learn real estate concepts and methods from the perspective of an appraiser using modern technology and analysis. Learn tips and techniques for programs like RStudio, field inspection tools and Evidence Based Valuation for better real estate market analysis.
With over 20 years in the real estate industry using the latest technologies in the field and office, I have the experience and wisdom to help you improve your professional skills and make better real estate decisions in the future.
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If you are on a mac, then you are correct. The installr package is not available for mac. There is a package called updateR available on github that works for Macs (more info: github.com/AndreaCirilloAC/updateR). I've never tried it, but you might want to check it out. If you are on a PC, here is a link to the package on CRAN: cran.r-project.org/web/packages/installr/index.html You'll need to install it before you try library(installr)
Thanks! It had actually been trimmed down in this video. It was longer and fuller in this one: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-S6hNtF8XBis.html.
Do you mean R or RStudio? The latest version of R is 4.4.1. The 4.4 versions require at least Windows 11. Prior versions can be found here: cran.rstudio.com/bin/windows/base/old/. The current version of RStudio is 2024.04.2. If you need prior versions of it, they can be found here: docs.posit.co/previous-versions/rstudio.html.
I tried to install 'installr' using install.packages but I am getting an error "ERROR: failed to lock directory..." Edit: Nevermind I figured it out, I only had to modify the R file in my device. Still, great video!
If you are on a mac, then you are correct. The installr package is not available for mac. If you are on a PC, here is a link to the github for installr: talgalili.github.io/installr/ . There is a package called updateR available on github that works for Macs (more info: github.com/AndreaCirilloAC/updateR). I've never tried it, but you might want to check it out.
Every time I open RStudio and start working on something different, I find something new. It's a great program with lots to offer. I'm happy to hear I'm not the only one learning something new. Thanks, Norm.
There's always something to learn with RStudio. It offers so much, I think we are just scratching the surface. Your dashboard is helping push us that way too. Thanks.
It's my understanding that the installR package only works on Windows computers. There is a package called updateR available on github that works for Macs (more info: github.com/AndreaCirilloAC/updateR). I've never tried it. I haven't used a Mac for a few years now. The following lines of code can be used to install the package: library(devtools) *(you may need to install this package first) install_github('andreacirilloac/updateR') library(updateR) updateR(admin_password = 'Admin user password') Again, I've never used this, so not sure how well it works, or if it works at all. In the past, I think I just uninstalled the old version and installed the latest version of R for Mac, but I think you can install the latest version in addition to the current version and point RStudio to the current version in the Global Options. I never ran into any issues doing it that way, but that's not to say that you might run into some problems.
Thanks for the video!! I had installed the latest version of R first but not the latest version of Rstudio and I was confused because I didn't kow that another update had to be installed.
Glad it helped. Having the 2 separate programs is a little different. Think of R as the engine and drivetrain of a car and RStudio as the steering wheel, dash and other controls.
🌟 Star-Struck Moment! 🌟 Oh my gosh... I want to share my excitement!!! Guess who just had a fan-girl moment? 🙋♂🙋♀ Me! 🌟 Met John while attending the Community of Asset Analysts 3rd Annual Conference last week in Desert Springs, CA! Yep...Really happened :)
Meeting new folks such as yourself was great, and getting to meet others for the first time in person was a real treat. Everyone had something to contribute at the conference, and I learned something from each one of the presenters. I had a great time and look forward to the next one. For anyone who missed out, I encourage you to attend the next one. If you can't wait till then, George Dell is offering a class next week in Petaluma, CA. Kyle Paquin and I are both helping teach. Check out www.valuemetrics.info/ to get registered for the upcoming in person class or the online class in March.
Thats a great simple video. Thanks for that. PS. If anyone happens to get the windows pop up message when installing RStudio that says "The app you're trying to install isn't a microsoft verified app" just click the "Install Anyway". You can go and change settings to prevent that in the future but I did that and after some Windows updates it defaults back to that setting so I just click the install anyway.
John this is impressive! Is all the code available on the CAA site? I'm going to be on the call this coming Friday. Can you show us newbies how to get this set up in R?
All the code is not available. The code demoed in this video is specific to my MLS. It scrubs the data how my MLS provides it. I use a few different MLS sites and have to build code for each. The code for most of the individual plots and data visualizations is available on the CAA forum. I just pick and choose the visualizations I want, and chain them together to create one complete document. If you watch the progression video (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-jZBTz9x-fRc.html) you'll see how the document changed over the years. Even the one I demoed in this video has been modified. There is a starter document on the CAA forum to help get you started. Feel free to contact me with questions or if you want additional training. And, be sure to subscribe as I'm always working on new videos for using RStudio in appraisal.
John, your videos have been great in getting started with Rstudio DF entry with cvs files, and the histogram creation. I'm hoping I'll come down the learning curve with the coding part, however, looks like I'll be relying on the wizard on the download and trying to copy others codechunks. I'll need to take George D. course(s) but in the meantime, any recommend videos/info resource for improving in this area. Also, I see you can clipboard these charts into your forms report, however, are your reports completely created in Rstudio and where might I obtain some info into trying to learn that process? Thanks again, NeilSmith
When I started with R I relied on the wizards as well so I could concentrate on cleaning the data and getting some plots. I took the introductory course on R through Datacamp.com to help get going. I've taken all of George's classes: www.valuemetrics.info/. I use "R for Data Science" as a reference: r4ds.hadley.nz/. After taking one of George's classes you can join the CAA forum where other real estate professionals share code and can often answer questions about code. I haven't found any other really good resources for R as it applies to real estate valuation. What I have found generally relates to commercial use analysis or Big Data that is looking at entire cities. I run an analysis on every property I appraise as shown in this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-MCu1UMkDKdM.html. The analysis has progressed from this video, but the basics are the same. I'll incorporate whatever data I need from the analysis into my appraisal software. For non-lender work you can complete your entire report in RStudio. I'll see if I can put together a demo video of such a report. Don't hesitate to reach out if you need any assistance.
brother, I love what you are doing. I would love to get to this point as well. I am spending time daily with R and R Studio but I feel like I am swimming upstream. I have been going through Marinstatlectures and have just started watching yours as well. I feel like Marin is teaching R in general where you are giving a glimpse of what is possible in the Appraisal World which excites me. My question is what resources did you utilize to get to your knowledge base?
I've used multiple sources. I went through the intro class with DataCamp. I work with the R for Data Science book. I took a course through MIT, but it wasn't very hands on. I enjoy this stuff, so I do a lot of trial and error trying to adapt info on the internet to Real Estate. There is very little I've found that is specific to Real Estate, and even less so for appraisal. The CAA forum has lots of good examples, and it is a great place to pose a question, because you will get appraisers replying. Let me know if you need any help.
@@ModVal Be careful, I might bug you to death. Particularly about creating scripts. I have spent some time in the R for Data Science book, good info but when you have a question you have no resource. I need to just keep plugging along and I know I’ll get there. CAA? I’m assuming that is California Appraisers Association? I’m in Oklahoma, not sure I could access that resource.
CAA is the Community of Asset Analysts. It's an online forum open to those who've taken a Stats, Graphs and Data Science class from George Dell: www.valuemetrics.info/. It's a good place to ask questions on these topics.
John, These are great! Do you have a video on how you set up your MLS export? What variables you chose and in what order. Do you use the same export for all your files?
Yes I do! Two of the MLSs I use are Rappatoni. The third I use very infrequently, so don't have a video for it. The one for Rappatoni can be found here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-f4-6-EUINkk.html. I include fields in my MLS export that I may not use in every analysis, so I typically use the same export for each appraisal. I have import code for each different MLS system as field names are not uniform between the 2 Rappatoni systems. Let me know if you need any help!
Nicely done! That is some very powerful analysis created so quickly and interactive. You appear to be a master in your field(s), appraising, and data analytics. I'm sure there is a great deal of additional expertise that goes into your final conclusions, but having that tool must really enhance you and your client's confidence. I'm hoping to be there with you soon!
Thank you! The speed of analysis and the breadth of information that can be conveyed are two aspects of RStudio I appreciate. This analysis is a great tool I use to start an appraisal before inspecting, which helps eliminate bias.
This is very powerful and useful. How long does it take to become familiar enough with R to create a template like this for most people? How would this work in your opinion for rural areas with limited sales data?
I've been working on this particular markdown document for several years. I just keep adding more components to it as I learn new code or find different data to show. The first version had 6 graphs (3 of them are now combined as one), a simple table and no narrative. I'll try to put together a timeline of the different versions. Something like this can work well in rural areas. Sometimes, I'll run 2 versions of it: one with local data and another with a wide range of 20 miles or so, but very narrow parameters for the CMS. That way I end up with 4 data sets for analysis.
@@ModVal Thank you for putting together this demo. So valuable! I'm in a rural market, and it seems like nothing I am taught works in real life. I bet underwriters and critics of all kinds don't argue with results like this.
I finally got several of the versions together to show a timeline of how this document has progressed over the years. Check it out: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-jZBTz9x-fRc.html
