Real Estate Appraisals: Art or Science? I sometimes jokingly remark to my wife, Erin, that "appraising is much like building a house or making sausage...you don't always want to see how they're made." Like the imperfections hidden behind painted drywall in the building process or the spooning cuts of Italian sausage neatly presented at the meat … [Read more...]
Adjustments to Comparable Sales Using Simple Linear Regression
In a previous post I promised to provide a more in-depth explanation of using simple linear regression to adjust comparable sales. Today I will fulfill that promise. To do so, I will use an example of a size adjustment from a recent commercial appraisal I performed on an office building in Louisville, Kentucky. Appraisers have known for years that … [Read more...]
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