Comparables - Projected Price Section Description
Projected Sale Price
Projected Sale Price is the estimated or the most likely sales price based on existing market conditions for the property. It includes the median value and the range. The estimation includes two types of prices: the prices differ by the calculation methods, but for both methods the properties data from Comparable Properties list is used. The Estimated Range Based On Price per SF calculation is a simple average of the values based on the actual sale price and recorded building living area. The calculation of Estimated Range Based On Value Ratio is based on value ratio (VR) and provides an average and range of values. The VR is determined using the most recent assessor's valuation (Market Value) compared to the most recent sale price (Sale Price), check Statistics About Comparable Properties section below for the details.
Important: Both methods of determining projected pricing are valuable. If your list of properties are very similar to the subject property, Price per SF is very reliable and easy to understand. If your subject property doesn’t match so well, Value Ratio is often more reliable.
The Projected Sale Price data is a customizable base on your local knowledge and research into properties. The values adjust to your settings: the re-calculation happens as soon you change the number of Comparable properties list by removing property there or by narrowing/extending the list of properties in Comparison Criteria section. The button X is used to hide the section (the visibility can be restored in Show Report Sections settings).
