What is a Market Evaluation?
A market evaluation is an analysis of the real estate market that a piece of property belongs to. Market evaluations are done to determine the value of a particular property (known as the subject property) – usually for the reasons of buying or selling real estate. Market evaluations are done with a specific area in mind, over a certain period of time and often other factors used to narrow down properties to compare to the subject property.
Let me explain a Market Evaluation
Real estate agents often do market evaluations for clients or potential clients to determine the value of their clients’ home or a home that their clients are looking to buy. Market evaluations help home buyers compare potential properties so that…