Thursday, September 12, 2019

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 in the suburb, with typical amenities. 

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 the one without the view. Similarly, an unit with unobstructed view of the East River or Hudson River could make a similar price difference.   

Therefore, a good Condo Valuation System must allow all of 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.

No comments:

Post a Comment