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Research the market to obtain information pertaining to sales, and pending sales that are similar to the subject property; Investigate the market data to determine whether they are factually correct and accurate; Determine relevant units of comparison (e.g., sales price per square foot), and develop a comparative analysis for each
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser.A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
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 ...
In July, the housing market had a 4.0-month supply of housing inventory, a 19.8 percent improvement over last year but still below the 5 to 6 months needed for a healthy, balanced market — one ...
Real estate economists analyze supply, demand, and pricing in real estate. Real estate economics is the application of economic techniques to real estate markets.It aims to describe and predict economic patterns of supply and demand.
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