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The question is, how exactly is property value determined? The following article delves into the “science” of residential and commercial real estate appraisal and discusses the steps to succeed. Explanation of potential risks you may face or negative aspects that may impact the marketvalue of the commercial property.
Simply going further back in the historical archive – property records and newspaper articles – will provide a rough analog of a similar property that the appraiser can use as an evaluation anchor point. Together, we will uncover the bestvalue while discovering the perfect buyer. And every special purpose property has a buyer.
Cap rates: To find this, you divide the NOI by the current marketvalue. Location and demographics: Your value will go up if you’re in a high-traffic area with good visibility. To find the bestvalue, you might want to look into some niche markets. These can help you see your growth over time.
Next month’s newsletter will have a lengthy article on the issues of the property inspector. I wonder how well the GSE AI works on rural appraisals, “one of a kind” properties, no permits, Highest and Best Use issues, and many more. Current market conditions: How to switch from all residential to both residential and commercial.
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