Exp19_access_ch03_hoeassessment – property sales 1.0

Exp19_Access_Ch03_HOEAssessment – Property Sales 1.0

  

Project Description:

In the following project, using data on homes for sale that Amy and Zac acquired, you are able to target properties that meet specific criteria. As you examine the data, you discover other ways to analyze the properties. You create several queries and present your results to the two investors for their comments. You also create several totals queries to evaluate the property lists.

     

Start   Access. Open the downloaded Access file named Exp19_Access_Ch03_HOEAssessment_Property_Sales. Grader has automatically added   your last name to the beginning of the filename. Click Enable Content on the   Security Warning message bar.

 

Now that you have opened the   database, you begin your analysis by creating a query using the Properties   and Agents tables from the Property database. The Properties table contains   all the properties the investors will evaluate; the Agents table contains a   list of real estate agents who represent the properties’ sellers. In this   exercise, you will add requested fields and only show properties that have   not been sold. You will then build an expression to calculate the price per   square foot for each property.
 

  Use Query Design to create a new   query. The Show Table dialog box opens so you can specify the table(s) and/or   queries to include in the query design. Add the Agents table then the Properties   table. Close the Show Table dialog box.
 

  Add the FirstName and LastName fields from the Agents table to the query. Add the ListPrice, SqFeet, and Sold fields from the Properties table to   the query. Run the query and view the 23 properties that display in the query   results.

 

Switch back to Design view and   add No in the Criteria row of the Sold   field. Sort the query in Ascending order by the ListPrice field. Run the   query and view the 17 unsold properties in order from least expensive to most   expensive.
 

  Save the query as Price Per Square Foot.

 

Switch to Design view. In the   Field row of the first blank column of the query design grid, right-click and   select Zoom. Add PricePerSqFt:   xListPrice/xSqFeet   and click OK. Access inserts   square brackets around the fields for you. Be sure that you added the extra   x’s to the field names. You are intentionally misspelling the field names to   see how Access will respond.
 

  Run the query. In the first Enter Parameter Value dialog box, enter 200000 and click OK. Access does not recognize xListPrice in the tables defined   for this query in the first record. When Access does not recognize a field   name, it will ask you to supply a value.
 

  Another Enter Parameter Value dialog box displays, asking that you supply a   value for xSqFeet. Again, this error occurs because the tables defined for   this query do not contain an xSqFeet field. Type 1000 in the second parameter box and press ENTER. The query has the necessary   information to run and returns the results in Datasheet view. Examine the   results of the calculation for Wrong Price Per Sq Ft. All of the records show   200 because you entered the values 200000 and 1000, respectively, into the   parameter boxes. The two values are treated as constants and give the same   results for all records.
 

  Return to Design view and display the Zoom window. Correct the errors in the   PricePerSqFt field by changing the formula to PricePerSqFt: [ListPrice]/[SqFeet] and click OK.
 

  Run the query and adjust column widths as necessary. The new calculated   field, PricePerSqFt, is displayed. The new field divides the values in the   ListPrice field by the values in the SqFeet field.
 

  Save and close the query.

 

Now, Amy and Zac would like to   see the field formatted with two decimal places. You will change the format   to Currency and add a caption to the calculated field.
 

  Make a copy of the Price Per Square   Foot query and name it Price Per Square Foot Formatted.
 

  Open the Price Per Square Foot   Formatted query in Design view. Display the Property Sheet (in the   Show/Hide group on the Design tab) for the PricePerSqFt calculated field.   Change the field format to Currency   then change the Caption to Price Per Sq Ft (no period). Close the Property Sheet.
 

  Run the query to view your changes. The calculated field values are formatted   as Currency, and the column heading displays Price Per Sq Ft instead of   PricePerSqFt.
 

  Save and close the query.

 

You will create a copy of the   Price Per Square Foot Formatted query from the previous step and paste it   using a new name. You will add a few more calculated fields to the new query.   You will create one calculation to determine the price per bedroom for each   house. You will create a second field to calculate the price per room. For   this calculation, you will assume that each property has a kitchen, a living   room, a dining room, and the listed bedrooms and bathrooms.
 

  Create a copy of the Price Per Square   Foot Formatted query and name it List Price Calculations.
 

  Open the List Price Calculations query   in Design view. Display the Builder window for the PricePerSqFt column (in   the Query Setup group). The Expression Builder dialog box opens, displaying   the current formula.
 

  Change the PricePerSqFt field name to PricePerBR and remove the [SqFeet] field. In the Expression   Elements box, select Properties table   from the Exp19_Access_Ch03_HOEAssessment_Property_Sales database.
 

  The fields from the Properties table are now listed in the middle column   (Expression Categories). Add the Beds   field to the expression box.
  The expression now reads PricePerBR: [ListPrice]/[Properties]![Beds].
 

  Delete the [Properties]! prefix in   front of Beds.
  The expression now reads PricePerBR: [ListPrice]/[Beds].
 

  As the Beds field name is unique within our query, the table name is not   necessary. Removing this makes the query easier to read. If a field named   Beds appeared in more than one table in our query, removing the table name   would cause problems.
 

  Close the Expression Builder. Run the query. Notice that the column heading   still reads Price Per Sq Ft. Also notice that the column’s contents are   formatted as Currency. These settings were copied when the query was copied.

 

Switch to Design view and ensure   that the PricePerBR field is selected. In the Property Sheet, change the Caption   to Price   Per Bedroom.   Close the Property Sheet and run the query. The PricePerBR column now has an   appropriate caption.
 

  Switch to Design view. Make a copy of the PricePerBR expression and paste it in the next blank column. You   will edit the copied expression so that it reflects the price per room,   assuming that the kitchen, living room, dining room, and the bedrooms and   bathrooms will make up the number of rooms.
 

  In the Builder window, change the PricePerBR field name to PricePerRoom. Add an opening parenthesis   before the [Beds] portion of the formula and a plus sign after [Beds].   Because you want the addition to be done first, you will enclose the addition   part in parentheses.
  The expression box should read PricePerRoom: [ListPrice]/([Beds]+
 

  In the Expression Elements box, select Properties   table from the Exp19_Access_Ch03_HOEAssessment_Property_Sales database   and add the Baths field to the expression box. Type another plus sign after   [Baths] and type 3 followed by a right parenthesis. In other words, you will type +3) in the expression box. Delete   the [Properties]! portion of the   expression and click OK.
  The expression now reads PricePerRoom: [ListPrice]/([Beds]+[Baths]+3).
 

  Your final formula is the list price divided by the total number of rooms.   The total number of rooms is the number of bedrooms (in the Beds field), plus   the number of bathrooms (found in the Baths field), plus 3 (a constant   representing the kitchen, living room, and dining room).
 

  In the Property Sheet, change the caption to Price Per Room and change the Format to Currency. Close the Property Sheet.
 

  Run the query, adjusting the column widths as necessary, then save and close   the query.

 

Amy and Zac feel like they are   close to making an offer on a house. They would like to restrict the query to   houses that cost $210,000 or less. They would also like to calculate the   estimated mortgage payment for each house. You create this calculation using   the Pmt function. You make the following assumptions: 75% of the sale price   to be financed, a 30-year term, monthly payments, and a fixed 3.65% annual   interest rate.
 

  Make a copy of the Price Per Square   Foot Formatted query and call it Mortgage Payments. Open the Mortgage Payments in   Design View. Add <=210000 to the Criteria row of the ListPrice column. The   query, when it is run, will show only the 7 houses that haven’t been sold   that cost $210,000 or less.
 

  In the first blank column, display the Builder window. Add the Pmt function   to the expression builder window (Functions ? Built-In Functions ?   Financial).The expression box displays:
  Pmt(«rate», «num_periods», «present_value», «future_value», «type»)
 

  Position the insertion point before the Pmt function. Type Payment: to the left of the Pmt   function, with a space after the colon. The expression box now displays:
  Payment: Pmt(«rate», «num_periods», «present_value», «future_value», «type»)
 

  Substitute the appropriate information in each argument ensuring that there   is a comma between each argument.

  

Argument

Value

  

«rate»

.0365/12

  

«num_periods»

30*12

  

«present_value»

[ListPrice]*.75

  

«future_value»

0

  

«type»

0

 

  Note that the loan is a 30-year loan with 12 payments per year, hence the   calculation for the number of payments. Also note, Amy and Zac plan on   financing 75% of the cost, putting 25% down. Therefore, you will multiply the   list price by .75 (75%).
 

  Change the format of the Payment field to Currency then close the Property Sheet and run the query. Notice   that the payment amounts are negative numbers (displayed in parentheses). You   will edit the formula to change the negative payment values to positive.
 

  Switch back to Design View. In the Builder window of the Payment field, add a   minus sign (-) to the left of [ListPrice] then   click OK. By adding the negative   sign in front of the ListPrice field, you ensure that the value is displayed   as a positive number. The expression now reads:
  Payment: Pmt(.0365/12,30*12, -[ListPrice]*.75,0,0)
 

  Run the query, adjusting the column widths as necessary. The query now   displays a column containing the calculated monthly mortgage payment,   formatted as currency.
 

  Save and close the query. 

 

Amy and Zac decide it would be   helpful to analyze the property lists they purchased. Some of the lists do   not have homes that match their target criteria. The investors will either   purchase new lists or alter their criteria. You create several totals queries   to evaluate the property lists. You begin your property list analysis by   creating a total row in Datasheet view of the Mortgage Payments query. This   will give you a variety of aggregate information for important columns.
 

  Open the Mortgage Payments query   in Design view. Drag the ListingID   field from the Properties table to the fifth column. The ListingID field   is now in the fifth column, between the SqFeet and Sold fields. The other   columns shift to the right.
 

  In Datasheet view, click Totals in   the Records group on the Home tab. In the Total row, display the Average List   Price for all the properties that have not sold. Adjust column widths as   necessary to ensure that all values are displayed.
  The average list price of these properties is $165,294.36.
 

  In the Total row, display the Count of ListingIDs.
  The count of properties in this datasheet is 7.
 

  In the Total row, display the Average Price Per Sq Ft.
  The average price per square foot is $115.32.
 

  Save and close the query.

 

Now, you create a totals query   to help Amy and Zac evaluate the properties in groups.
 

  Create a new query, via Query Design, and add the Properties table.
 

  Add the SalePrice and Sold fields to the query (in that   order) then Display the Total row (Show/Hide group of the Design tab). A new   row labeled Total displays in the query design grid, between the Table and   Sort rows. Each field has Group By listed in the new row by default.
 

  In the SalePrice column Total row, change Group By to Avg. In the Sold column Total row, change Group By to Where then type Yes in the Criteria row. This   criterion will limit the results to sold houses only.
 

  Change the SalePrice format to Currency.   Close the Property Sheet. Run the query and adjust the column width, if   necessary. The results show an overall average of $333,838.77 for the sold   properties in the database.
 

  Save the query as Overall Results then close the query.

 

Create a new query, via Query   Design, and add the Properties and   Lists tables. Add the NameOfList field from the Lists table   and the SalePrice, ListingID, and Sold fields from the   Properties table to the query.
 

  Display the Total row then change the Total row to Avg for SalePrice and to Count   for ListingID. Next, change the Total row for Sold to Where then type Yes in the Criteria row. This criterion will limit the results to   sold houses only.
 

  Change the SalePrice format to Currency   then the caption for the ListingID field to Number Sold. Close the Property Sheet and   run the query. Adjust column widths as necessary. Notice that Minor Houses   has the lowest average sale price. As Amy and Zac are hoping to focus on   inexpensive properties, they can focus on properties offered by this source.   Notice also that the query results show the number of properties sold in each   source, in addition to the average sale price. This will help determine which   sources have been more effective.
 

  Save the query as Results By Listing Company.

 

The previous query shows the   average value of the properties by listing company. However, Amy and Zac   learned at the seminar they attended that the longer a property has been on   the market, the better your chances of negotiating a better price. You will revise   the query to show, on average, how long each listing company takes to sell a   house.
 

  Copy the query, save it as Results By Listing Company Revised and click OK.
 

  Display the Total row then change the Total row for the Number Sold column to   Sum. The total number of houses   sold (6) now displays at the bottom of the Number Sold column.
 

  Switch to Design view. In the first blank column, type DaysOnMarket:   [DateSold]-[DateListed] to create a new calculated field. Change the Total row from   Group By to Avg then change the   Format to Fixed and close the   Property Sheet. The DaysOnMarket field will show the average number of days   on the market for each sold listing.
 

  Run the query and adjust the column widths as necessary. Minor Houses   listings have an average of 28.00 days on the market. Since this is lower   than their competitors, it lets you know they are fast with sales.
 

  Save and close the query.

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