Reading between the lines of real estate headlines is a crucial skill for understanding what’s happening in today’s real estate market. In an economy filled with mixed signals, a thorough analysis of attendant risk and its impact on the value of real estate is the most important factor in valuation, and will help to explain the differences between the highs and the lows in the marketplace. A strong knowledge of the valuation process and advice from a seasoned, credentialed real estate appraiser will assist you and your clients in making well-founded real estate decisions.
Market Status
In New York City, there are many stories reporting a competitive marketplace at prices reminiscent of pre-recession values. Caution must be exercised not to assume that a rising tide of values will apply to all properties in all locations throughout the New York area. There are still many properties under considerable financial stress due to various circumstances that the appraiser needs to clarify and quantify as part of a well-reasoned appraisal process.
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