Property Value Information
Accurate property value is vital information for owners, lenders, and investors. A property value allows a homeowner or investor to identify special features and financial considerations prior to making a purchase.
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Property Value
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A property's value is determined by a licensed real estate appraiser. The appraiser collects neighborhood and tax information alongside sale prices of comparable homes for an accurate projected value.
Consideration
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Location and condition affect the property's value. Architectural design, renovations, and surrounding areas are also considered.
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Significance
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Pat M. Esswein, Associate Editor of Kiplinger's Personal Finance magazine, explains that an accurate property value verifies that a home's sales price is supported by the market price. In addition, the property value enables owners to identify their position in the market.
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References
- Photo Credit property image by Christopher Hall from Fotolia.com
