Birmingham Appraisal
MARCH 26, 2024
They wanted to know if it was okay to use a new construction sale as a comp for an older home. The cost approach is most relevant for new or like new construction. It reflects the current cost of construction materials and labor as well as land value. All three approaches are not always used but depend on the property itself.
Birmingham Appraisal
MARCH 26, 2024
They wanted to know if it was okay to use new construction sales in an appraisal of an older home. The cost approach is most relevant for new or like new construction. It reflects the current cost of construction materials and labor as well as land value. Comparables need to be similar physically to the subject property as well.
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Birmingham Appraisal
APRIL 11, 2023
3) Use bracketing when choosing comps- The technique of using sales that are larger and smaller than the home you are pricing is referred to as bracketing. Using the living area to describe this technique helps it to be more easily understood, however, bracketing can be used with other features of the home as well.
Clear Capital
MARCH 4, 2024
Depending on location, features such as condition, quality of construction, room count, etc., Issue: Neighborhood sales do not bracket a salient feature Solution: Use comparables from both inside the subject’s immediate neighborhood as well as outside the neighborhood. can vary in market reaction.
Raleigh Realty
APRIL 27, 2021
Over half the homes are of newer construction, about 55, that was built after the year 2000 and even more recent. Most people have a middle-income bracket with people working in executive, management, sales, and retail jobs. There is constant residential and commercial construction taking place here. They literally have a 0.0
Appraisal Today
APRIL 14, 2023
These types of clauses are now incredibly common amongst the construction trades, real estate professionals, wedding services, financial services, and more. Appraisers sought to bracket the subject using three comparable sales. Many of us have learned to truncate our verbiage because our lending clients do not want to read volumes.
Realvals
AUGUST 4, 2022
Q1 quality is high-end finishes, custom construction, and professional workmanship. Bracketing. It is always important for an appraiser to try and “bracket” all features of the subject property. Therefore, the lot size is “bracketed.”. Quality refers to the materials used when building and/or remodeling the house.
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