Q: How do you determine market value?

A: Three ways we determine market value:
Comparison Approach - considers what similar properties in the vicinity have sold for recently, with appropriate adjustments for time, land size, interior sq. ft., amenities and so on.
Cost Approach - equates how much a property costs to rebuild, minus ‘accrued depreciation.’
Income Approach - Most commercial properties generate income for their owners (apartment buildings, retail strip malls, office buildings, industrial, etc.). The income divided by a cap rate equals value.
Read a full blog on market values at Sheddy.ca or call Bob Sheddy at 403.324.2222.