| "What's my property worth?" Our clients ask that question all the time. NAI Hanson has consulted on hundreds of property evaluations for our clients to determine their property’s current market value.
There are three (3) approaches to the problem of finding market value. All data utilized in these approaches come from the market place as evidenced in sales. The approaches are commonly referred to as Market Income and Cost Approach.
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The Market Data Approach is sometimes called the “Sales Comparison” approach to value. Sales of similar properties are compared to the property under review in order to arrive at the estimate of value.
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The Income Approach to value is utilized by analyzing gross income, deducting an amount for vacancies and other rent losses and deducting all expenses in order to apply an appropriate capitalization rate to the resulting net income.
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The Cost Approach is utilized by estimating market costs, the replacement cost of a building and other improvements, then deducting depreciation -- which is a loss in value from all causes -- and adding this depreciated value to the value of the land upon which the improvements are constructed.
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In essence, all approaches to value (particularly when the purpose of the opinion is to establish market value) are market data approaches since the data inputs are presumably market derived.
We have over 50 years of commercial real estate experience. Our partnership with NAI Global allows us to service regional, national and international companies through our network of 5,000 professionals and 325 offices in 55 countries worldwide. In the U.S. alone, we have locations in 47 of the 50 states.
We have all the tools and resources necessary to properly market your property: To name a few: demographics, market reports, financial information, aerials, mailing lists and floor plans.
REALTrac™ - Our proprietary web-based system allows our clients 24/7 access to the status of their property, and details our accountability.
We are a strong proponent of TEAMWORK. We bring the appropriate experts to the table on an as-needed basis to best advise and negotiate on behalf of our clients and customers. |
