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Updated over 11 years ago on . Most recent reply
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How do you determine the +/- adjustments of a comp
I've often wondered exactly how an appraiser comes up with the adjustment values that are used when comparing properties. For example how much credit or deduction is used for a 1/2 bath, more or less square footage, an extra bedroom etc...etc....
I've seen an adjustment value of $15/sq ft of space but not sure where that figure comes from or if it can be applied to all appraisals. Does it only only apply to a certain area?
Is there a standard adjustment guideline or is it just up to the individual appraiser to come up with their own adjustment values?
Most Popular Reply
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Best to ask your local appraiser as this will vary based by so many things including the usual:
location
condition
house value (we don't get as much for a bathroom remodel /sq.ft. on a $50,000 house as on a $250,000 house)
Tons of variables. Check local appraisers. They are usually very forthcoming with their parameters.