sales comparison approach


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sales comparison approach

See market comparison approach.
References in periodicals archive ?
The cover article, "Timeshares, Market Value, and the Real Estate Appraisal Process," explains the unique concerns appraisers face in valuing timeshare interests and the pitfalls they may face in application of the sales comparison approach. The second article, "Effective Bank Valuation Programs-- An Examiner's Perspective," provides insights into what examiners expect of financial institutions in conducting safe and sound valuation practices under current regulations and guidelines.
If you work in a market where recent sales activity involves numerous homes that include and accurately document an ADU and provide a supportable and ironclad sales comparison approach, lucky you!
The Minnesota Supreme Court previously affirmed the Tax Court's findings concerning gross building area and its rejection of petitioner's expert's sales comparison approach, but concluded that the Tax Court erred in rejecting petitioner's expert's discounted-cash-flow approach and, consequently, in failing to consider the income approach to value.
Buyers interested in purchasing residential property would rather compare prices of the identical properties and the Market Approach / Sales Comparison Approach would be more applicable.
Florida courts, following the lead of USPAP and real estate appraisal practice, have embraced three such formulae, or approaches, to valuing real property: 1) the market or sales comparison approach; 2) the income approach; and 3) the cost approach.
The traditional appraisal sales comparison approach is based on sales of other properties that are thought to share similar salient characteristics with the subject, with adjustments made for dissimilar characteristics.
Market Value of the Real Estate Only $230,000 (Appraisal done on 4/7/11 utilizing only the Sales Comparison Approach).
When the market sales comparison approach is applied, it is important to determine whether the sales have been adjusted to exclude business value.
Although the sales comparison approach is the most common and preferred method, the results obtained from mass valuation models are influenced by the number of market transactions used in the analysis and by the accuracy of the data, which are sales prices.
The sales comparison approach is a set of procedures in which a value indication is derived by comparing the property being appraised to similar properties that have been sold recently, then applying appropriate units of comparison and making adjustments to the sale prices of the comparables, based on the elements of comparison.
Residential General Certification Certification Influences on real estate value 5% 5% Legal considerations 5% 4% Types of value 5% 6% Economic principles 5% 6% Real estate markets & analysis 4% 5% Property description 11% 10% Highest and best use analysis 9% 9% Appraisal math & statistics 3% 4% Sales comparison approach 15% 10% Site value 5% 4% Cost approach 9% 6% Income approach 7% 15% Valuation of partial interest 1% 1% Appraisal standards & ethics 16% 15%
This text/workbook focuses on the sales comparison approach to value, with consideration of the appraisal process and principles as they apply to real estate markets.