”You compare properties that are similar to the property you are interested in to determine its value. We say it this way: “No Comps, No Contract.” Let’s look at an example. If you are trying to determine the value of a three-bedroom/two-bathroom, 1,600 square feet, attached two-car garage home, you’ll compare it to whatever similar [...]

You can find out the gross rent multiplier for your area by calling a commercial real estate company and asking them what it is for your city. If the gross annual rent is $120,000 and the gross rent multiplier for the area is 8, then we multiply $120,000 by 8 and come up with a [...]

There are three ways to value real estate. The three ways are the cost approach, the income approach, and the market comparison approach. When a real estate appraiser makes an appraisal, he or she will use one, two, or possibly all three of these valuation approaches.