BOCK FOLKEN
Member
- Joined
- Jun 22, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Florida
Excellent discussion on regression analysis. And I agree you need more....
Back to the OP, I think I would expand the search area to the entire state for sales, and maybe other states nearby. I would go back 2 or 3 years.
Assuming HBU is residential, if it is for a lender they will want you to demonstrate marketability which can only be done with similar sales.
I was looking at a 11,000sf beachfront in South Daytona yesterday for a tax appeal. The local tax assessment is based on 2.3 million. The number looks good to me, but there are no comps anywhere in the county. I told the appraiser I was talking to that he would need to go north and south 200 miles and to the west coast of Florida as well to find comps.
You throw out the age/mileage book on a job like this. Hope you got a decent fee.
Back to the OP, I think I would expand the search area to the entire state for sales, and maybe other states nearby. I would go back 2 or 3 years.
Assuming HBU is residential, if it is for a lender they will want you to demonstrate marketability which can only be done with similar sales.
I was looking at a 11,000sf beachfront in South Daytona yesterday for a tax appeal. The local tax assessment is based on 2.3 million. The number looks good to me, but there are no comps anywhere in the county. I told the appraiser I was talking to that he would need to go north and south 200 miles and to the west coast of Florida as well to find comps.
You throw out the age/mileage book on a job like this. Hope you got a decent fee.