Appraisals, Luxury Condo
Hi,
As mentioned a few days ago, there have been a few articles recently about how the booming market here in the Phoenix area is affecting the appraisal of the sold homes. I am including a link to one of those articles to give you a broader look at the issue. Go to http://www.azcentral.com/arizonarepublic/business/articles/0831appraisals31.html for mor information.
Some of the basic criteria that appraisers look at is location, square footage, number of rooms, type of flooring, lot size, main features of the home (patio, fireplace, # garage stalls etc.) and functionality. All these factor in to the overall value. An appraiser looks at comparable properties previously sold to arrive at a value. If you have further questions let us know.
From the AZ Business gazette comes information on a new luxury condo project. Luxury condominiums are going up next to the Valley Ho, a valley landmark in Scottsdale. Toll Brothers Inc. has begun renovation on its recent $19.2 million purchase of Residences on Main, a community that has 84 condominiums and 62 townhomes. the property is at 69th and Main next to the Valley Ho Resort, which is itself undergoing a $70 million renovation including a residential tower.
It's a holiday weekend. Enjoy yourself!!
Adam Tarr and Sharon Kotula
Your Phoenix area Real Estate source