King of the Mountain - Queen of the Mountain

Commercial Real Estate Agent with Realty Executives BR074909000AZ RB 21330 HI

Where do You start when Appraising a Potential Listing?       September 13,2017

I start with the Tischer Principle of QOM, KOM!   This evaluation process is for homes with views and elevation variations.  So in My Hoods, I have Troon Mountain, Camelback Mountain, Mummy Mountain and Piestawa Peak to name a few. Most subdivisions have roads which wind up the mountain to the top or the highest point.

Image the road or roads winding around the mountain. Homes above the road are valued from 5-9, roads below the road are valued at 5 to 1. Value 10 is for the real QOM,KOM This ranking then is added to your CMA and used to compare Active Listings to your wantabe listing.

Note: Subdivisions as well as areas have different Markets. Today, Most of the Valley with new houses, these new houses have created a Seller's Market. Older house in the higher price ranges are a full on Buyer's Market with houses selling at 20-40 percent under appraised value. Silverleaf and Clearwater Hills are being hard hit with this fact as are Rolling Hills and the rest of both DC Ranch and Paradise Valley.

Comments (0)