Wednesday, November 7, 2018

A Good Condo Valuation System Allows Factors that Specifically Impact Condo Pricing

(Click on the image to enlarge)

The above graphics show that a 2,000 SF condo in a downtown high-rise with world class amenities will be significantly pricier than its similar-size counterpart in a mid-rise building with typical amenities in the suburb. 

Such price differences are more stark in major cities; for example, a condo in Midtown Manhattan (NYC) will be at least 5-to-10 fold pricier than a similar one in Queens (NYC suburb). 

Similarly, a high-rise condo unit with panaromic river or park view in Manhattan could be significantly pricier - often millions - than the comparable ones (in the very same building) without the view. For instance, a condo unit facing the Central Park could fetch millions more than one without the view. Similarly, an unit with unobstructed view of the East River or Hudson River would make a similar price difference.   

Therefore, a good Condo Valuation System must allow all these experimentations so the users understand how the location, type of complex, amenities, view, etc. impact condo prices.

I picked the above graphics from Condoyada.com as I own and operate it, to avoid having to deal with any copyright issues. My Condoyada site is a 60-second top-down condo valuation system. It's self-directed (no modeled values), totally free (no strings), and requires no login or registration whatsoever. Moreover, it has a built-in non-linear value curve/scale tied to the condo size. Finally, it is mobile-friendly site so no additional apps are needed (just pick the url from Safari on iPhone). Anyway, please choose the system that works best for you.


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