Sales Comparison Approach Real Estate | Real Estate Exam

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In this real estate exam prep video we will explore a specific type of appraisal call the Sales Comparison Approach that's sometimes called a Market Data Approach to Value.
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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.
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Paul Vojchehoske

Опубликовано:

7 сен 2024

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Комментарии : 84

@TheRealEstateClassroom 4 года назад

Related Video: Cost Approach to Value (Appraisal) - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-MkFArHGYiq8.html

@tgmarshall65 3 года назад

I am so glad I found your videos. I'm in a $500 real estate course and I can't follow the teacher at all. Nice guy but totally rambles about irrelevant things and I lose interest quick. I've watched others on youtube and they spend a lot of time in chat with the ones who were on video live and I lose interest fast. Thank you for providing clear, relevant, and to the point teaching. xoxo

@TheRealEstateClassroom 3 года назад

Hi Teresa... thank you very much for leaving a comment. We do really appreciate it. I am glad these videos are helping! Best of luck on your studies and let us know if we can help in any way!!!!! :o)

@lillianavillacorta1294 Год назад

I’ve learned more from this channel in the last day and a half then my entire online course, thank you so much for existing!!! I’m now ready for my exam

@cesarromero7218 3 года назад

Thank you so much. I am just a lil upset, I already bought this real estate service program, with some annoying hosts who all do is joke and explain half of it.on the other hand, you go straight to the point and your illustrations are great. too bad I just find bout your service today and not few months ago. keep the great job.

@tgmarshall65 3 года назад

I'm pretty sure I've watched the videos you are referring to and I totally agree. Very glad I found The Real Estate Classroom.

@user-wr8kg3rp4f 8 месяцев назад

I love the way you explain this , I've paid twice for real estate courses two different schools, which basically like throwing your money away

@TheRealEstateClassroom 7 месяцев назад

Thank you😁

@nicolebeavers1255 Год назад

These scammer type ads are killing me, but I'm absolutely loving the valuable information that you are providing in your vids!!!! Finished my broker classes couple weeks ago here in Chicago and will be ready for exam next month. Instruction was uh ok I guess--at least I stayed awake for Saturday sessions from 9am to 4pm--but the instructor completely breezed over mostly all of the MATH. I'm like ok everyone is cool with that?! But no one commented or they're only complaining in the GroupMe or to each other. I'm just going about it with conviction that I know how to obtain information and can create my own summer enrichment with both: these vids, practice tests and small weekly sessions with my sister who is a seasoned CPA and just recently purchased an income property. We are actually learning from each other and she is a breeze at the math. I love these vids and am grateful and appreciative for peeps like you!!!! All the best to you and your family!!!

@tpopejr Год назад

I pay for RU-vid Premium at $12 / mo. No ads at all. Love it.

@TheRealEstateClassroom Год назад

Hi Nicole... thank you for leaving a comment. Glad the videos are helping. Math is one of those topics that many instructors don't teach well. I encourage you to take the math course at the school you're going to

@TamaraNJones Год назад

I got all the questions about sales comparisons wrong on my final, now I see what I was doing wrong, I was adjusting the subject to match the comparison instead of “ensuring the comparable looks like our subject” 🤦🏽‍♀️. Thankyou 🎉

@TheRealEstateClassroom Год назад

Common mistake so don't be too hard on yourself... Keep on studying 😁

@TheRealEstateClassroom 3 года назад

Thank you Cesar... I appreciate you leaving us a comment. We do are best to bring relevent information for students who are studying for their real estate exam. I wish you othing but the best of luck with your exa,. Keep on studying and you will do great!

@carmenpuente5774 2 года назад

everything makes more sense now, thank you very much.

@TheRealEstateClassroom 2 года назад

Excellent!

@theresadodson7509 Год назад

Excellent explanation for determining adjustments. I would have used Comparable 1 and add $2500 for the pool for an appraisal amount of $245,000 for the subject property. I did get the answers you suggested, Comps 1or 2.

@TheRealEstateClassroom Год назад

Thank you for leaving a comment... I appreciate it! 😀

@kepasmaibon958 8 месяцев назад

I just found myself a very valid information about this market sale method. Much appreciated you clear explanation.

@TheRealEstateClassroom 8 месяцев назад

Glad it was helpful!

@foreverjuice3537 3 года назад

Best video I’ve seen for this concept

@TheRealEstateClassroom 3 года назад

Thank you... I really appreciate the comment! :o)

@zamirhassan9271 Год назад

Thank you so much..Very much helpful to understand.

@nojashon3548 3 года назад

It is my first time watching your videos. So great! Thank you so much!

@TheRealEstateClassroom 3 года назад

You're welcome.... thanks for leaving a comment

@bellabenyaphachueng2182 2 года назад

You are the best teacher..

@TheRealEstateClassroom 2 года назад

Thank you, Bella!

@christabelmadyiwa8997 3 года назад

Thanks It really helped me a lot

@TheRealEstateClassroom 3 года назад

You're welcome... thanks for dropping us a comment... We are glad we could help!

@eugenewithbrit Месяц назад

Wow. Very clear

@TheRealEstateClassroom 9 часов назад

Glad it was helpful! ;o)

@jessicadorcey7541 Год назад

This was so helpful!

@TheRealEstateClassroom Год назад

Awesome... Thank you for dropping a comment. I appreciate it

@ninatan3279 2 года назад

Another great explanation. Thank you!

@TheRealEstateClassroom 2 года назад

You're welcome

@DavidMatney 4 года назад

Great explanation!

@TheRealEstateClassroom 4 года назад

Thank you, Dave...

@austinbrock6376 2 года назад

Thank you for this video. I completely understand the concept but it seemed backwards to me in how the Exam questions are worded and graded in terms of the subject property and comparable property adjustments.

@TheRealEstateClassroom 2 года назад

You're welcome... keep studying :o)

@shmuelm.taichman8130 3 года назад

Really explanatory. Thank you

@TheRealEstateClassroom 3 года назад

Thank you.... really appreciate you leaving a comment! Best of luck on your exam!

@SuperKath25 2 года назад

This was great thanks. I also need to factor in time sold. Would you be willing to do a video on that as well. Like when house 1 sold 6 months ago and house 2 sold one month ago and house 3 sold yesterday.

@TheRealEstateClassroom 2 года назад

Great suggestion!

@yhanmarrespontalla3420 2 года назад

Months cannot affect the actual value. You can use depreciation method ( Remaining life ÷ Economic life × Actual Value) or STRAIGHT LINE METHOD (Actual Value ÷ economic life = per year depreciation)

@RAMON-376 2 года назад

You doing great !

@TheRealEstateClassroom 2 года назад

Gracias :o)

@kayrsa4869 3 месяца назад

Best Video ever😭

@tpopejr Год назад

Do appraisers use weighted values to determine the subject property value? I'm in school now and the course work describes using weighted percentages.

@TheRealEstateClassroom Год назад

I do not know enough about the appraiser exam to answer your question. I am sorry !

@miguelducasse6065 3 года назад

Question so if you have 3 to 5 properties on your same block that are appraised at a lower price it doesn’t mean your home will be appraised at those low prices ? How far can subject properties be apart ?

@TheRealEstateClassroom 3 года назад

It really depends on the specific situation and type of property being appraised. For example, you might be determining value of a farm. You may need to look at farms in other counties since prior sales can be sparce. For residential we like to keep them as close geographically as possibly. However, even then we may need to expand the search area to find comparables. And to respond to your statement, yes if there are 3 to 5 homes on your block that appraised at a lower price it could indeed lower your value. OR the 3 to 5 homes are nothing like our subject property and on the same block or area there are comparables for our subject property which increase the value....

@fastrivers812 19 дней назад

Where can I find out how the appraiser calculated the value using "The statistical mean value, which is derived by weighting all three comparables equally"?

@TheRealEstateClassroom 9 часов назад

You wont need anything like that for your exam. The exam question will provide everything you need to complete the exam question.

@catd7547 2 года назад

Great video 👍

@TheRealEstateClassroom 2 года назад

Thanks for the visit

@ulyanaivanova3396 3 месяца назад

Amazing

@abdurrahimtirtoaji 3 года назад

what if there are not enough comparison data ie. only one or two comparable data? is there any references for this condition

@TheRealEstateClassroom 3 года назад

Typically what happens is the appraiser will siden the search area for additional comparables...

@JuliaBarry-fp1zd 6 месяцев назад

Where do you get a list of improvements and their general cost?

@marycrisdayondongallardo7276 Год назад

A comparable property is identified to the subject property being appraised. The comparable sold six months ago for $1,000,000. As the appraiser, you must make an adjustment for the time difference between the subject property and the comparable. You have found a paired sale of two houses, one of which sold one year ago for $800,000 and the other sold yesterday for $880,000. What is the proper estimated adjusted sales price for your comparable? show solution please. than you

@IreneB-se5dx Год назад

Thank you very much, really appreciate it!!! Great job explaining it!!🎉

@TheRealEstateClassroom Год назад

Thank you

@benjaminbaca2618 Год назад

Can one appraisal on the same house at $100,000.00 and another at $169,000.00, can a house very that much? And what if one appraisal has the wrong address and also has the map showing subject property on the wrong side of town these mistakes on appraisal for $100,000.00 Appraiser $169,000.00 over an hour inspection roof, attic, crawl, space and correct address and subject propertie map. Appraiser $100,000.00 15 minute walk through.

@TheRealEstateClassroom Год назад

Thanks for the comment.... to answer your question... yes two appraisars can have large differing opinions of value.... and there isn't much that can be done about it.

@kesportsentertainment.3283 2 года назад

Nice

@TheRealEstateClassroom 2 года назад

Thanks

@jparekh18 3 года назад

I don't see the video for income approach video?

@TheRealEstateClassroom 3 года назад

Hi J P ... try this one... ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ilEkOFoEwEg.html

@ucchadfitz 2 года назад

One question and I can’t rap my head around one thing. I recently took my appraisal exam ( very hard ) missed by 1. Anyway the sales comparison approach made no sense during the exam. They would give 6 comps and say what is the value of the subject…the answers were 15k below what should be the value and the other 2 answers were 15-20k above the values of the comps….how should I look at these questions. I know the values above the sales comps would not be considered because it is beyond the bracketing….

@myahrussell48 2 года назад

In this video how do you know you are suppose to subtract the 10,000 and 5,000 and add that 2,500 to 240,000?

@myahrussell48 2 года назад

@Mister Bunny I was asking the instructor because I had a question I didn’t understand! Thank you though.

@Osmond7 2 года назад

When the comparable has a feature more than the subjective property, we subtract.. when it lacks something from the subjective property we add.. so more or less if it’s positive we subtract and if it’s negative, we add