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Our example property is 303 Willowcrest Drive, a 4-bedroom/2.5-bath home in Rochester, New York. At the time of writing, the home was listed for sale at $375,000, which is close to the national ...
AVMs analyze local sales data, property records and market trends to estimate the value of your home — similar to online value estimators like Zillow and Redfin, but with more detailed data.
Yet, one outlier says the property is actually worth less. On one end of the spectrum, Zillow’s Zestimate says the value is at $1,002,900 as of mid-July — more than 40% above the 2017 purchase ...
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics. The location also plays a key role in valuation.
Comparables (or comps) is a real estate appraisal term referring to properties with characteristics that are similar to a subject property whose value is being sought. This can be accomplished either by a real estate agent who attempts to establish the value of a potential client's home or property through market analysis or, by a licensed or certified appraiser or surveyor using more defined ...
A broker price opinion (BPO) is a real estate professional’s dollar estimate of a property’s worth. It is an opinion, but one often backed up by the selling prices of comparable homes in ...
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