This is how you collect and analyze data for a successful home valuation.
As part 2 of our valuation series, today I’ll share how you can effectively collect and interpret data. This is a crucial step in the valuation process, and it’s best to be properly equipped with this knowledge. To watch the first part, simply go here.
Feel free to watch the full video above or use these timestamps to browse specific topics at your leisure:
0:00 — Introduction
0:13 — Watch the first part of the series to learn the beginning stages of the valuation series
0:30 — The second part of the series involves data collection and interpretation
0:51 — Some of the challenges I have with local agents
1:50 — Step 1: You need to understand the market area
2:35 — Step 2: Evaluate the characteristics of the property
3:16 — Step 3: Review comparable properties
3:30 — Can we challenge an appraisal?
5:00 — Determine the best use of the property
6:08 — Appraisers look at the condition and quality of the home
8:06 — Research recent, similar, and comparable properties
11:07 — Step 4: Do the data analysis
13:16 — Topics we’ll discuss in the next part of the series
If you need help with your valuation process or have any questions about real estate, call or email me. I’m always happy to help.