How Baton Rouge Home Appraisers Choose Comparable Sales?
Home Appraisers in Baton Rouge Are Required To Choose Comps Which “Bracket” Or Sandwich Several Features. When I speak of "subject", the "subject" references the home being appraised.
Example: if sales price is $250,000, then we're using comps sold from below $250,000, say $240,000 or $245,000, and comps selling above $250,000, say from $255,000 to $265,000.
If On A Busy Street, Other Sales On Busy Streets
If subject has a water front view, then including a comp or sale with similar water front view
Lot or Land Size
Example: If subject is 12 years old, then an Appraiser might use comps with 10 years old and 15 years old.
Living Area Size
Example: If Home Is 2600sf, Appraisers Use Comps From Say 2400sf To 2900sf
# Of Bedrooms
# Of Bathrooms
Example: If Subject Has A Pool, Then A Comp With A Pool
NOTE: The term "How Appraisers Think" was first used by my Appraiser colleague and peer, Ryan Lundquist, at Sacramento Appraisal Blog.