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comparative market analysis

1. Preparation

Define the purpose of the analysis (e.g., pricing, investment).

Gather necessary tools and software for analysis.

Identify target market and property type.

2. Data Collection

Collect data on subject property (size, features, condition).

Gather information on comparable properties (recent sales, current listings).

Research neighborhood characteristics (schools, amenities, crime rates).

3. Selection of Comparables

Choose properties that are similar in size, location, and features.

Ensure comparables have sold recently (typically within the last 6 months).

Consider properties that are currently on the market for context.

4. Data Analysis

Analyze sale prices of comparables and adjust for differences.

Review market trends and price fluctuations in the area.

Consider economic factors affecting the market (interest rates, employment rates).

5. Valuation Calculation

Calculate the average price per square foot of comparables.

Adjust the value based on property condition and unique features.

Determine a recommended listing price or valuation range.

6. Report Preparation

Compile findings into a comprehensive report.

Include graphs and charts to illustrate market trends.

Summarize key insights and recommendations clearly.

7. Presentation

Prepare to present findings to stakeholders (clients, management).

Use visual aids to enhance understanding (slides, handouts).

Be ready to answer questions and provide additional insights.

8. Follow-Up

Discuss the analysis with clients and gather feedback.

Adjust the analysis if new data becomes available.

Monitor market changes and update the analysis as needed.

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