Episode 075 - Buying a Porsche by Its Weight
Episode 075 - Buying a Porsche By Its Weight
Pricing property should be as easy as pricing a car, especially when you only use one unit of comparison. However, pricing houses does require some effort if you want accuracy and belivability.
Pricing a home only by its size misses so many vital elements and does not provide much relevancy or support in justifying a property’s value. Take the extra steps by educating yourself on the valuation process to provide credibility in your CMA, purchase price, and appraisal rebuttal.
SHOW NOTES
- 02:00 – Want to buy a Porsche. How would you price it?
- 02:45 – “Comparable” vehicles sold by the same weight.
- 04:35 – Pricing a property by its square footage is wrong.
- 06:25 – Many elements are missed such as location, lot size, view, age, condition, basements, etc.
- 08:00 – Pricing a property by size is easy but is not accurate or reliable.
- 09:05 – It is not easy but put properties on a grid. Break the elements of comparison down. Put in the work.
- 11:25 – Overall price per square foot vs. line-item square foot adjustment.
- 13:00 – “Rule of Thumb” on a line-item basis.
- 15:10 – Do the hard work and you will get better results.
SHOW LINKS
- Barber Race Track – https://barberracingevents.com/
- Porsche Experience – https://www.porschedriving.com/track-experience
- Porsche 718 Cayman GT4 – https://www.porsche.com/usa/models/718/718-cayman-gt4/
BETWEEN THE LINES LINKS
Web
https://www.facebook.com/groups/realestatebetweenthelines/
https://www.facebook.com/Brian-C-Lee-111822417027919/?
YouTube
https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?