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.

Close all database   objects. Close the database and then exit Access. Submit the database as   directed.