Tagged: suburban

Market Action and Reaction 5

Market Action and Reaction

I believe it is time that we take a practical look at what a subject’s market is… Drawing on part of my heritage, the Native American Cherokee part, “Many Moons Ago” when I was employed as a Management Consultant/District Director for a Century 21 Franchisor, one of the challenges that I faced in dealing with over 50 separate brokerages was helping these often small brokerages define their markets. There was a theory that someone had come up with that it was about a 3 mile radius around their office. Well, in some cases that would have put some markets in...

Urban or Suburban 4

Urban… or Suburban?

Difference between Urban and Suburban locations Appraisers, Last week, I asked your input regarding why in many cases appraisers check suburban in the Neighborhood Characteristics when often the subject’s location is actually an Urban area (at least from the definitions perspective below). The example I used was from an actual report. The subject property is located within a city of 90,000 population. It has typical urban services, including police and fire protection, utility water deliver and sewer service. It is surrounded by competing subdivisions, nearby shopping, colleges, city administrative offices and business buildings. It is also close to Interstate 5,...

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