How To Use .parable Sales To Determine The Current Market Value Of A Property-havd707

Real-Estate When assessing the value of a property, many investors and other .mercial property buyers look at .parable sales to determine the true current market value of a property. The .parable sales can show you exactly what properties are selling for, not just the asking price. If you know three or four properties of similar characteristics sold for about the same amount, then you can determine what the value of your property is. Don’t ever just look at the asking price, as it can be as far off as the owner wishes. He or she may be dreaming in regards to what the property is really worth! .parable sales, or .ps, are the properties that have sold around the subject property that are zoned identically, and are about the same amount of acreage. It also helps if the .parable sales are from properties that have similar uses. .parable sales may not always be the most accurate for your specific property. They could be from many years ago, may not be of similar use, many not have the same characteristics such as the availability of utilities, or may not have a .parable amount of road frontage, or could be a considerable distance from the subject property. In order to get around this problem, you must use the closest properties that you can. You simply adjust the price according to the changes in the market or property characteristics. For example, if a .parable sale was from 2001, and the current year is 2006, then you can adjust the price according to the appreciation the overall .mercial market has experienced in a specific area. Or, if the subject property has a total road frontage of 200 feet, and the .parable sale property has frontage of 1000 feet, you can adjust the price or value appropriately. As you can see, finding the true current market value of a property can take some investigation and adjustment in relation to the properties that have sold in the past. The more recent and similar the .parable sale is, the easier and more accurately you can assess the true value of the property. It is a good idea to collect as many .parable sales as possible and take inventory of each. What are the characteristics? What are the uses? Assess each one individually and then group them together to determine an overall consensus. You should be able to determine the current market value at this point. The more properties you have to pool from, the more accurate a number you will have. Very often brokers or agents supply you with .ps from the area of interest as part of the service of selling the subject property. If you are not familiar with the area, you must be leery of the .ps that they send you. I have received .ps of properties in the most affluent areas for a subject property that was positioned in a lower to medium class area which .pletely misrepresented the true market value of the property. Unless I had investigated further and asked many questions, I could have easily taken this property as a true .parable sale, and would have expected a far greater return than what I really would have experienced. Unfortunately, as much as you want to trust the information that you are given by a source, you must always perform your very own investigation because brokers and agents are there to sell their properties. Many of them are honest and will do the best they can to give you the most accurate information. However, there are those who will dupe a buyer in order to sell the property and receive their .mission. It is important to be aware of these tactics. Although we don’t like to admit that they happen, they most certainly do. .parable sales are really the only way you can determine the true value of a property. It may take a .parable from another city, or even county of identical characteristics to determine the most accurate value. If necessary, ask a trustworthy broker or agent for assistance, as they will know their market inside and out, and be able to point you in the right direction as to what the property is really worth. Get two or three opinions in order to validate any information you might receive. About the Author: 相关的主题文章: