paired sales

paired sales

An appraisal technique used to find the value of a particular feature within a property, such as a two-car garage.If the appraiser can find two recently sold houses that are virtually identical except that one has a two-car garage and one does not, these are called paired sales. If the two-car garage is the only significant difference in the two,then the difference in the sale price must be attributable to the garage.In that manner,one may assign a value to a two-car garage.As a result, when employing the comparable sales method of appraising a house, the appraiser may confidently assign values to the various features that differ in the house under consideration from the houses that sold recently.

References in periodicals archive ?
Previous reviews have divided the literature into three categories: statistical price models, survey-based research, and other appraisal methods, such as paired sales and resale analyses.
Ideally, impact studies rely on paired sales to demonstrate diminution in value.
It is expected that the impact of the mortgage crisis on paired sales with a prior foreclosure will show up only with a delay, as it takes time for homes purchased in a foreclosure sale to be sold or turned over again by investors or homeowners.
Well known to property appraisers are the Paired Sales Analysis used by Jackson (2001), Contingent Valuation Analysis (CVA) used by Carson, (2000); Clinch and Murphy, (2001), Option Pricing Model by Lentz and Tse (1995) and the Hedonic Model developed by Rosen (1974).
The total number of paired sales from 1991 to 2006 in the area to be annexed in 2002 was 5,404.
Thirdly, the paired sales analysis was applied to a dynamic west-side suburb of Cleveland where new construction impacts the relocation market significantly.
The Clear Capital Home Data Index (HDI) provides weighted paired sales, and price-per-square-foot index models that use multiple sale types, including single-family homes, multi-family homes and condominiums.
Adomatis, SRA, LEED, and Ben Hoen are the winners of the 2016 Armstrong/Kahn Award for their article, "An Analysis of Solar Home Paired Sales across Six States," published in the Winter 2016 issue of The Appraisal Journal.
The draft explains that in the absence of sufficient data to perform a paired sales analysis.
Also covered are ways to use property listings, improved property sales and paired sales analysis to estimate land value and the selection of appropriate units of comparison.
He made location adjustments based on paired sales analysis, concluding that property located on a busy street would require an adjustment of $40,000 and that locations at the entry to a cul-de-sac versus the center of a cul-de-sac would be adjusted to a lesser extent.
Many prominent HPIs available in the market today depend on the availability of paired sales.