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Should we be using price per sq ft to value Sarasota, FL homes?
Should we be valuing Sarasota homes using price per sq foot?
 
 
 
Using price per sq foot is very convenient and easy to use.  I believe that is partly the reason why people use it.  You just take the price per square ft most houses in the area are selling for and multiple that by the number of sq ft in the house.  If houses are selling for 100 dollars a sq ft in your area and your house is 2,000 sq ft than the house should sell for $200,000 right? Not necessarily, there are many factors that determine the value of a house.  
One of them is the condition of the house,  also you have to consider the floor plan and layout of the house.  Some floorplans are very good, others are not, and have useless space.  
Some houses have enclosed garages, or other space that isn't all that useful.  Some might have enclosed lanais.  All space isn't created equal.  Added on space adds sq ft to the house but is hardly ever as functional as the original structure.  
Also some houses are a lot more updated than others.  You need to adjust for the updates if you are using price per ... more

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