Price-per-square-foot is widely used as a basis for estimating value, and it is also one riddled with problems. It can be strongly argued that price per square foot has no value in ascertaining value at all. Many variables inherent in deriving price per square foot are insignificant and that renders conclusions based upon them all but worthless. There are of course exceptions; new tract construction, tract condominiums and on occasion newer commercial properties. This article considers existing homes as it is frequently applied broadly and quite inaccurately.
What To Do When Your Appraisal Comes In Too Low
July 5, 2012 by
Most investors will tell you that one of the biggest problems they are facing today is not finding buyers for their properties but getting the banks to appraise them for what the buyers are willing to pay.
What Is a Real Estate Assessment?
January 6, 2012 by
It is important to know that just like a formal appraisal; a real estate assessment is just someone’s opinion and it should be treated as such. As a home owner you will have to make a conscious effort to not take the assessment too personal, and don’t allow it to hurt your feelings. The intention of the real estate assessment is just to give you an informal benchmark of the approximate value of your home based on other homes in the area.
