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Jason Millward Blog

What's my Home Worth?

Posted by Jason Millward on March 16, 2018 in  Determining Home Valuation
What’s my Home Worth? Thinking of selling or just curious, check it out: House Valuation   Montrose Colorado is the hub of South West Colorado!  If you’re thinking of buying or selling in the area, find out more info here:  Montrose Real EstateThanks for reading,Jason MillwardRealtorReal Estate Investor... read more
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Broker Price Opinion

BPO
Posted by Jason Millward on December 29, 2017 in  Determining Home Valuation
Broker Price Opinion A Broker Price Opinion (BPO) is an estimate of house value or sales price provided by a real estate agent.  It’s mostly used by financial companies and banks that may not have the time or want to put up the added expense for an appraisal.  There are a couple types of BPO’s:  one being a drive-by and the other being an interior BPO.  Most of the time a drive-by BPO is used which doesn’t include interior conditions.  The method used is usually a compa... read more
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Determining Home Valuation

Determining Home Valuation
Posted by Jason Millward on March 04, 2017 in  Determining Home Valuation
Determining Home Valuation- How to Figure out Listing and Offer Price- How to Correctly Perform a Comparable Market Analysis (CMA) Before you put your home up for sale or before you buy a home, you’ll want to do a Comparable Market Analysis or CMA to find the value and/or listing price.  A CMA is a report that figures your home’s value by comparing similar homes in similar areas that have recently sold.  Most real estate agents offer free CMA’s as a way of gaining leads an... read more
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Valuation by Income Approach

Valuation by Income Approach
Posted by Jason Millward on March 04, 2017 in  Determining Home Valuation
Valuation by Income Approach The Income Approach is used to value investment properties or properties that produce income to the owner.  There are two different methods to find a property value within the Income Approach: The first way is to use the Capitalization Rate (Cap Rate) Cap Rate = Net Operating Income/Market Value 1.       Find similar income generating properties that have recently sold in the area 2.       Research these pro... read more
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Valuation by Cost Approach

Valuation by Cost Approach
Posted by Jason Millward on March 04, 2017 in  Determining Home Valuation
Valuation by Cost Approach This method can be used to value under or over-improved properties, unique commercial properties, new construction, and is often used in insurance valuation. The Cost Approach values a subject property by calculating the cost to build an equal property.  Here are the steps to follow: 1.       Determine the value of the vacant land a.       Research recent sales of comparable vacant lots b.   &nb... read more
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