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Getting accurate cost data for free is basically impossible, with the market for such data being monopolized mainly by one provider, called Marshall & SwiftLinks to an external site.. For that reason, this activity is a lot lighter, and much more conceptual. Consider it a break after that last Sales Comparison Method activity you just did 😉
Step 1: In this activity, please watch our lecture for this week on the Cost Approach to valuing real estate.
Step 2: Then, in a new post, please explain, in simple terms–in a way that you might explain to, say, your sibling or friend who had no special background in real estate–what a cost approach is an how it can be used to value a piece of real estate. Aim for a simple, 2-3 sentence kind of answer devoid of jargon.
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