Forget About Square Footage!
January 16, 2013 In Uncategorized
Price Per Square Foot is NOT an accurate indicator of Value!
It does NOT take into consideration whether or not there is a Pool,
Tennis Court, View, etc.
It gives no value to the Condition of the property either: Teardowns & Newly Renovated Homes have the same price per square foot.
But more important than that , it totally ignores Ceiling Height.
A property with flat 8-foot ceilings has the same Price Per Square Foot as a home with Cathedral Ceilings, or even 2-story ceilings!
Please recognize that valuation is a complicated matter- and the one statistic that has no validity whatsoever is price per square foot!