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Residential Units of Comparison - A Common Denominator

Arlen C. Mills

The Valuation Journal, 2016, vol. 11, issue 1, 48-63

Abstract: The common denominator refers to the units of comparison that are used to compare a sale property to the subject and to compare sale properties to each other. In order to provide an accurate analysis, evidence must be developed to indicate what units of comparison best reflect the actions of residential buyers and sellers in a given market. Participants in different markets will not depend on the same units of comparison when making value decisions. Determining which units of comparison are most appropriate for a given market is basic to making effective price comparisons that are the result of applying a reliable common denominator.

JEL-codes: G32 R31 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:vaj:journl:v:11:y:2016:i:1:p:48-63