Markets, Neighborhoods and Subdivisions Part I
CP Home Appraisals
OCTOBER 20, 2016
The more we review appraisals, the more apparent it becomes that many appraisers in Houston are confusing the terms Market and Neighborhood. This creates misleading results in appraisal reports and can lead to an incorrect conclusion of value. For starters, let’s give some basic definitions for each of these real estate terms: A Real Estate Market is an area, usually geographically constrained, where buyers and sellers come together to make transactions.
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