by Terry Lavery
Beware of PSF valuations.
Many brokers, appraisers, and buyers reduce all value on all property to one number: Per Square Foot (PSF).
PSF is used in measuring space and used for a variety of real estate measurements for comparison.
Lately in Tucson, PSF has been the only number for some buyers based on a bank’s internal requirements and buyers’ low balling bids.
Beware of your PSF value but do not throw away $100,000 worth of solar panels, pools, expensive appliances or lot size when making a market comparable or trading property.
Watch for a garage turned into a family room/man cave. Watch for a second level mezzanine being billed as an office. Undeveloped lots without utilities or drainage and no landscape are not the same.
Patios are not all Arizona rooms. Fenced yards or gated communities mean more value when comparisons are equalized to your subject property. ASK AN EXPERT on your PSF.
Contact Terry Lavery