Description

Episode 075 - Buying a Porsche By Its Weight

Pricing property should be as easy as pricing a car, especially when you only use one unit of comparison. However, pricing houses does require some effort if you want accuracy and belivability.

Pricing a home only by its size misses so many vital elements and does not provide much relevancy or support in justifying a property’s value. Take the extra steps by educating yourself on the valuation process to provide credibility in your CMA, purchase price, and appraisal rebuttal.

SHOW NOTES

• 02:00 – Want to buy a Porsche. How would you price it?
• 02:45 – “Comparable” vehicles sold by the same weight.
• 04:35 – Pricing a property by its square footage is wrong.
• 06:25 – Many elements are missed such as location, lot size, view, age, condition, basements, etc.
• 08:00 – Pricing a property by size is easy but is not accurate or reliable.
• 09:05 – It is not easy but put properties on a grid. Break the elements of comparison down. Put in the work.
• 11:25 – Overall price per square foot vs. line-item square foot adjustment.
• 13:00 – “Rule of Thumb” on a line-item basis.
• 15:10 – Do the hard work and you will get better results.

SHOW LINKS

• Barber Race Track – https://barberracingevents.com/
• Porsche Experience – https://www.porschedriving.com/track-experience
• Porsche 718 Cayman GT4 – https://www.porsche.com/usa/models/718/718-cayman-gt4/

BETWEEN THE LINES LINKS

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brian@brianclee.com

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