This market analysis will show prices and will be the statistics used to estimate your property worth.
The price of a property is determined by various factors that should be considered when a Comparative Market Analysis is done. The most important elements to consider are:
- Location: the street or the avenue where the property is located, if it´s beachfront or on a dead end street.
- View: if the property has ocean or city view.
- Age of the property: how old is the property or it it pays taxes or not.
- Property Amenities: If the property has a social area, pool, green areas.
- Accessibility: if the property is close to shopping centers, schools, hospitals.
- Category: whether it is a commercial or residential property, if it is a house, an apartment or commercial space.
- Market Trend: the price for which other properties in the area have sold or rented.
These elements influence the final price, so is suggested to know them, for both the owner, who may consider them on the decision to sell or rent, and the buyer, who should look upon them when choosing a property and know the parameters followed to determine if the price is right.
To make the analysis it is important to have reference values, market value or comparative value of different operations made for use as a guide.
*Subject to availability of historical comparables during the assessment *
