Valuation of High End Residential Properties

The purpose of this workshop is to provide some guidance and suggestions on the process of data analysis and valuation of high-end residential properties. Information from various areas of the U.S. as case study examples to help establish some processes and procedures which may be helpful when you encounter these properties. Images and property characteristics of sales and listed properties will also be used. First question, what constitutes a high-end residential property? The answer: It depends. Disappointing response, I am sure. This is a lot like the old U.S. Supreme Court hearing where a Justice Potter Stewart stated, “He did not know the definition of pornography, but knows it when he sees it”. That philosophy fits for the high-end or difficult residential property. As appraisers, we know it when we see it and unfortunately, ‘it’ tends to vary from jurisdiction to jurisdiction leaving us without hard and fast classification rules. While the numbers may vary from place to place, the process we use to value these properties can be established.