Evaluating Properties - Comparable Tip 2 - Time
One of the most important elements to evaluating the worth of a property is TIME. Time is what dictates where we are in the current market and that we are comparing in a duration where the economic conditions and supply/demand are as similar as possible. In 2008-2009 the market was changing so rapidly that you had to use a 90 day time frame and then possibly subtract some money to anticipate the market going down even further. Today's market is much more stable to we find that if we go back 6 month - 1 year, it is usually a safe bet. Time will also show you how certain pockets of the local market are transitioning , increasing in demand or decreasing in demand. Both geography and time are two staples to consider when evaluating a property.
Ian Walsh215.839.3271
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