article thumbnail

Cost Approach in Fifteen Minutes or Less

Appraisal Buzz

As a real estate developer, prior to entering the field, I always costed out my projects for profitability. I use several easy-to-follow steps in my 10-15 minute cost approach development task and are detailed below in the five Cost Approach steps to follow. Using this method well reconciles my development and appraisal side.

Valuation 370
article thumbnail

My Top 11 Tips For Realtors When Choosing Comps

Birmingham Appraisal

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Price Adjustments and the 2023 Market

Lamacchia Realty

Lamacchia Realty has been selling homes since 2005 and tracking data to develop an effective model on pricing homes. Consider the Price Bracket Along with comps and the Target Pricing Model, price brackets are a helpful tool to use when adjusting the price of your home.

article thumbnail

Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

The Purpose and Components of a Comparative Market Analysis (CMA) The CMA is a tool that real estate agents use to develop a list price for the house they are selling. By providing the CMA to the appraiser, the appraiser can see the agent’s thought process when developing the asking price.

Agents 86
article thumbnail

Tips for Making a Successful Transition to a New City After a Personal Low Point

Cleveland Appraisal Blog

Joining local clubs or organizations, volunteering for events or charities, attending spiritual centers, classes, or workshops, and online communities such as Meetup or Facebook groups are excellent ways to meet new people and develop a support system.

article thumbnail

Price Adjustments in this New Housing Market

Lamacchia Realty

Lamacchia Realty has been selling homes since 2005 and tracking data to develop an effective model on pricing homes. Consider the Price Brackets. Along with comps and the Target Pricing Model, price brackets are a helpful tool to use when adjusting the price of your home. How much do you adjust the price?

article thumbnail

Price Adjustments in 2021: Tis the Season

Lamacchia Realty

Lamacchia Realty has been selling homes since 2005 and tracking data to develop an effective model on pricing homes. Consider the Price Brackets. Along with comps and the Target Pricing Model, price brackets are a helpful tool to use when adjusting the price of your home. How much do you adjust the price?