{"## Understanding Units of Comparison":“In the world of real estate appraisal, the unit of comparison is a crucial tool. It allows appraisers to compare the prices paid for properties of different sizes or types, ensuring an equitable analysis in property valuation.”,"## Examples of Units of Comparison":“Here are some common units of comparison used to assess similar properties within a specific area:
Residential Property\u2014Per Square Foot: This unit compares house prices based on cost per square foot, providing a normalized value to evaluate homes of varying sizes.
Theater\u2014Per Seat or Per Screen: This method looks at the price per seat or screen, helping to appraise theaters with different capacities.
Country Club\u2014Per Golf Hole: In the context of country clubs, the cost per hole of the golf course is the unit of measure, useful for comparing clubs with varying numbers of holes.
Silo\u2014Per Cubic Foot: When appraising storage structures like silos, valuing per cubic foot is effective for different capacities and dimensions.”}
Related Terms: Comparable Properties, Market Value, Appraisal Methods, Real Estate Metrics.
