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Do appraisers use a specific formula (e.g. price per square foot) to figure out exactly how much each home is worth?

April 26, 2017appraisers figure foot Formula Home price square worth

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Do appraisers use a specific formula (e.g. price per square foot) to figure out exactly how much each home is worth?

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Appraisers weigh the location of the home, its proximity to the desirable schools and other public facilities, the size of the lot, the size and condition of the home itself, and recent sale prices of comparable properties among other factors.