A comparative market analysis is performed by a real estate agent to determine what a property should sell for. The agent will evaluate properties near the subject property that have recently been listed as sold, pending, active, contingent, cancelled, & expired; these are also known as comparables. The agent evaluates the list price, sales price, days on market or DOM, and square footage of the property to determine what the property should be listed for. The technique is to take the individual sales price of individual sales and divide the total square footage into the sales price to come up with a cost per square foot per individual sale, they will do this with multiple sales then calculate an average cost per square foot. This approach is not weighted because it only considers the square footage to determine the value.
A real estate appraisal is an unbiased report that uses sold, active, pending, and contingent comparables to determine the market value of a property. The appraiser weighs the comparable sales approach with market based and supportable adjustments. Several adjustments are used for site size, views, pools, quality and condition, bedroom and bathroom count, gross living area, etc. This approach is more accurate and supportable than using the average cost per square foot of the comparable sales because it evaluates each part of the property and properly adjusts for each item.
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Brandlin Appraisals Inc. specialize in helping people who need appraisals for estate purposes, divorce, date of death, bankruptcy, FSBO’s and more throughout San Diego county. For more information please contact us at (760)741-7699, or visit our website at Brandlinappraisals.com, or email us at firstname.lastname@example.org
San Diego, CA // Real Estate Appraiser
San Diego Real Estate Appraisal Services For:
* Divorce Appraisals / Marriage Dissolution
* Bankruptcy Appraisals
* Bail Bonds Appraisals
* Estate / Date of Death / Retrospective Appraisals
* Financial Planning & Trusts
* PMI Removal Appraisals
* Pre-Foreclosure & Short Sales
* Tax Assessment Appeals
* Pre-Listing, Pre-Purchase, FSBO’s
* Probate Appraisals