Why do people focus so much on price per square foot for home value comps? It

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Apr 14, 2021
8:23:02pm

Odysseus Head Gamemaker

ignores so many more important factors like lot size, amenities, upgrades, age of home, cul-de-sac, etc.

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Odysseus

Previous username: THUNDERDOME69
Bio page: Odysseus
Joined: Oct 28, 2014
Last login: Apr 24, 2024
Total posts: 32,753 (11,425 FO)

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Messages

Author

Time

Why do people focus so much on price per square foot for home value comps? It

Odysseus

4/14/21 8:23pm

Aren’t all of those things figured in?

blueaussie

4/14/21 8:24pm

I just mean in casual conversation people will say things like “homes in Alpine

Odysseus

4/14/21 8:28pm

Ah gotcha. I was thinking about my actual appraisal.

blueaussie

4/14/21 8:34pm

Because it’s an easy metric. Those other things aren’t as easily quantifiable

cougarfann888

4/14/21 8:24pm

Its just a big factor, One story vs two story is a big difference too

JOPE

4/14/21 8:25pm

What area and what price are people talking? I’m curious on current rates

Medute

4/14/21 8:26pm

Price is pretty important when it comes to buying a house

SUAVO

4/14/21 8:26pm

It gives you a starting point at least.

dYrtbYkerYder

4/14/21 8:27pm

Because that's how buyers value a home. For the most part, the value of

Corn Pop

4/14/21 8:29pm

Houses in the same area/neighborhood often have similar characteristics and community benefits.

Trent

4/14/21 8:35pm

Good estimate for homes that are usually pretty similar in many neighborhoods.

mulletino

4/14/21 8:33pm

it is the baseline. They used to use replacement costs, but those are so extreme

Nat Gas Man

4/14/21 8:54pm

Should do price per cubic foot.

zonacougar

4/14/21 8:57pm

some locations count garage space and decks if they have air. Using sq/ft is a decent metric, but it certainly is just

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