So, how much does square footage really matter? Can it really make that much of a difference? Let's look at one real-life example of how "size" influences value, and see just how much consumer protection is in jeapordy.
Appraiser "A" used $45.00 psf Appraiser "B" used $80.00 psf Appraiser "C" used $92.00 psf Appraiser "D" used $70.00 psf
In this case the house was apx. 2,400 square feet, which all seemed to agree upon with a two story rectangular style home.
So, how much difference does it make?
In the next example, not only did the appraisers use different price-per-square-foot adjustments, they also all came up with different square footage totals. What are consumers to think? While these two problems are totally separate issues, the point is that when it comes to pricing real estate, there is A LOT of variation.
16 different prices for the exact same house - which one is right? What would the experts say?