PropertyEconomics
Elite Member
- Joined
- Jun 19, 2007
- Professional Status
- Certified General Appraiser
- State
- New Mexico
I am sure they both work. The M&S approach has % adjustments which are between 1.67% & 2% of the cost approach new depending on total life of 50 or 60 years.
If I recall your approach has figures of a bit over 1% but total life almost double M&S which would equate to about the same.
Between 1 and 2% are typical Mark in the early life of the property and less as the property ages. The market renovates prior to 60 years so I would think market derived is more reasonably supported.