Real Estate Multiple Regression Analysis

October 3, 2008 at 4:00 pm Leave a comment

A multiple regression analysis is a real estate value method for realtors to research home prices and do comparisons. When conducting a multiple regression analysis, real estate agents will usually look at:

  • total square footage of each home in a neighborhood
  • the number of bedrooms and their individual sizes
  • the average income for that particular neighborhood.

This real estate valuation method is used for research purposes only, and can be used for a number of different reasons.

Real estate valuation multiple regression analyses should not be used to find out the current market value of a home that will be listed. This type of real estate analysis is not totally accurate when it comes to a specific house.

In order to get a more accurate selling price, you would need to have a real estate agent prepare a Comparative Market Analysis (CMA). Of course, if you’re looking to spend as little as $200.00, you could schedule an appointment with a local real estate appraiser… and then wait a few weeks for them to be available to give you a home appraisal.

The most cost-effective way to get a short term answer for a question regarding home value is to get connected with a real estate agent for a CMA. If an agent provides you a multiple regression analysis, it is also free, but you also would not have an exact amount for your particular property.

As you can see there are many ways to find current home values but a real estate valuation multiple regression analysis is more for doing research than for personal use. At GetMyHomesValue.com, we connect homeowners with real estate needs with local real estate agents who can answer your questions.

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Entry filed under: Home Valuation, How Much Is My House Worth, Real Estate Appraisal. Tags: , , , .

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