An estimate of the value of property using select indicators from sales of comparable properties, usually provided by a broker or salesperson, to help clients set listing and selling prices.
Computer-Assisted Mass Appraisal (CAMA) refers to proprietary software designed to rapidly appraise one or more real properties. This software varies in complexity, from simple percentage increases in property values to sophisticated statistical models that evaluate comparable properties.
The Market Comparison Approach, also known as the Sales Comparison Approach, is a valuation method used primarily in real estate to estimate the value of a property by comparing it to similar properties recently sold in the same area.
