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What does "market price" mean in real estate?, And how can it be estimated?

Posted by Yair Sharon on 09/10/2021
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I separate 2 Concepts - between "Valuation of a real estate property" (performed by a certified real estate appraiser) and "Calculate market value” which can be performed by anyone.

Calculation of the market value of a real estate property:

For example, The property under examination - an apartment 4 Rooms, Floor 2, Walnut Street No. 7, Herzliya, 110 Mr, Year of construction 2010.

Go to the "Tax Authority - Real Estate Information" website (the only reliable website because it is government-public and it reflects all sales transactions completed in Israel) and locate all the residential apartments sold on Aguzi St. during the last two years.

Then, Locate all the residential apartments that were sold in the streets adjacent to Aguzi St. We need to get to at least 15 Assets (in order to reach accurate metrics as much as possible - of course, the more we increase the quantity, to be more precise) - was and is missing, We will increase the search to a larger radius.

Put everything in an Excel spreadsheet in the order of proximity to the data of the property being examined and then from the late to the earliest, When the goal is to reach an average price per built square meter, Multiply it by the square meter of the property under review (110 square meters in the example), In order to get the market value calculation.

In addition - there are specific addition/reduction coefficients for the property under review - I am ready to explain this personally to anyone who is interested.

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