An Element of Comparison is a categorization of property characteristics that causes real estate prices to vary. Some elements of comparison are:
| • | Date of sale (or market conditions), |
| • | Physical characteristics |
The most common unit of comparison for a single-family residence is square feet. There are, however, many units of comparison depending on the property being appraised. Here are some examples.
| • | Front foot for commercial property |
| • | Lake front for lake properties |
| • | Seats for theaters and churches |
| • | Cubic feet for warehouses |
An appraiser may use one or multiple units of comparison to assist in evaluating a property.
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http://www.georgiaappraiser.com/db/glossary/index.html?elementsofcomparison.htm
