robert higgins
Member
- Joined
- Jul 15, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Connecticut
Question, how do you determine market reaction for location, comps that are in a different town, some distance away?
I did an appraisal a few months ago on a unique property that the client is now asking for some more supporting comps. Problem is there are only a few comps in the subject’s market area that matched the subject and most of the closed sales were dated. Now the next set of comps is 20-25 miles away in a different town that would be considered superior to the subject’s town, superior location, and views. How would you go about determining supported adjustments for comps in a different market place?
Thanks
I did an appraisal a few months ago on a unique property that the client is now asking for some more supporting comps. Problem is there are only a few comps in the subject’s market area that matched the subject and most of the closed sales were dated. Now the next set of comps is 20-25 miles away in a different town that would be considered superior to the subject’s town, superior location, and views. How would you go about determining supported adjustments for comps in a different market place?
Thanks