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The Comparative Approach

The Comparative Approach. Ing. David Slavata, Ph.D. Property Valuation. Principle. It is necessary to have at least two real estates with nearly no differences ( flat A, flat B)

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The Comparative Approach

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  1. TheComparativeApproach Ing. David Slavata, Ph.D. PropertyValuation

  2. Principle • Itisnecessary to haveat least tworealestateswithnearly no differences (flat A, flat B) • Flat A (valuated) theunknownprice, theotherespeciallytechnical and legalparametres are known • Flat B (comaprative) knownprice, knowntechnical and legalparameters

  3. Methods • Direct comparative • Professional balance sheet • Usingthe direct increases and reductions • Usingthecoefficients • Direct with no representative • Undirectwithrepresentativeestate

  4. Example Valuatemultiflat house in thevillageof Svatoňovice by comparativeapproach. Builtfrombricks, insulated. In the house there are 4 similarflats 2+1. Appartement area 57m2. No balcony. Use thecomapartivemethodes. Theyearofconstruction: 1963.

  5. Theadvertising database

  6. Professional balance sheetmethode CV1 = 1/n x SUM SPi

  7. ComparativeValue

  8. Advantages and disadvantages • Simplemethode • Assumptionofhigh homogenity offlats • Timeliness • Sample ofusage: Flatsfor instance

  9. Methodeofcomparison, 1.Direct. Usingofincreases and reductionsduethediferencesbetweenvaluated and comparableflats. 2. Usingthecoefficients express ofdifferences.

  10. Direct methodeusingincreases and reductions CV2a = [(SPA +/- sum IRAi) x W1 + (SPB +/-sumIRBi) x W2 +….+(SPX +/- sum IRXi) x Wz] / W1 + W2+ … + Wz

  11. Advertising database

  12. Calculation CV = (+390 x 0,85 + 50 +0 + 39 +650 x 0,85 – 100 – 50 – 50 +580 x 0,85 - 100 + 0 – 50) / 3 CV = Kč/flat

  13. Usingthecoefficients express ofdifferences CV2b = sum ISPCi / n ISPCi = SPi / Idi Idi = k1 x k2 x k3 x…..x kn

  14. Procedure • To getthe database withthecomparativefltas as homogenuos as possible. • Thebidpricesofflatsshouldbecorrected by thereductioncoefficient. • Selectionofsignsofdifferencesshouldbe set thecoefficientsofdifferences (k) • By multiplicatingofcoefficientswegettheIndexesofdifferencesforeachcomparativeflat. • Thesellingpriceshouldbedevided by the Index ofdifferenceforeachflat. • By theaverageofadaptedsellingpriceswegetthecomparativevalueofthetheflat.

  15. Sestavení databáze

  16. Creationofcoefficients K1……….. Rooms K2……….. Locality K3………. Technicalcondition

  17. Valueofcoefficients K1: 2+1…….. 1,00 3+1……… 1,12 K2: Svatoňovice. 1,00 Vítkov…….. 1,12 Sádek……… 0,90 K3 Standard… 1,00 -…………… 0,90 +………… 1,1

  18. Calculation

  19. Děkuji za pozornost

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