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RES 450 Week 3 DQ 1 -
The Sales Comparison Approach
Imagine that you are an appraiser and you’ve been given an assignment to appraise a single family home in a suburban neighborhood. However, the client needs convincing about the approach you’re planning to use. In 300 to 350 words:
- Explain why the sales comparison approach is best suited here.
- Explain the important concepts behind the sales comparison approach.
- Explain how you will decide if a sale is comparable.
- Discuss what information about a comparable sale should be collected and how you plan to compare this data to the subject property.
- Identify the major sources of market data available to you.
- Outline the statistical techniques you can use to analyze sales.