The Difficulty of Pricing High-End Homes

Pricing high-end homes (over $2.5 million) is difficult at best, given the variability of the features of each home, buyers’ personal preferences, and subjectivity.  Each home is usually unique in characteristics. The exact value to potential buyers of those characteristics is unknown.  As a result, only approximations can be used to compare two high-end homes.  This is why appraisers consider a 10% range of value to be “accurate” and the closest one can come to divining fair market value.Jeff Stricker