Property Valuation Real Estate Statement

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December 9, 2070

To: Mr. Michael Ong
789 Oak Avenue
New City, NC 12345

Subject: Property Valuation Report for 123 Maple Street, New City, NC

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Dear Mr. Ong,

I am pleased to provide you with the property valuation for the property located at 123 Maple Street, New City, NC 12345. This valuation is based on my professional assessment and the most recent market analysis conducted in December 2070.

I. Property Details:

• Property Address: 123 Maple Street, New City, NC 12345

• Property Type: Residential Single-Family Home

• Land Size: 500 square meters

• Building Size: 250 square meters

• Number of Bedrooms: 4

• Number of Bathrooms: 3

• Age of Property: 12 years (built in 2058)

• Current Market Conditions: The real estate market in New City has been experiencing steady growth, with increased demand for residential properties in suburban areas due to recent infrastructure improvements.

II. Valuation Summary:

• Estimated Market Value: $850,000

• Date of Valuation: December 9, 2070

• Valuation Methodology: This valuation has been determined using a Comparable Sales Approach, which includes analyzing recently sold properties with similar characteristics and locations to estimate the value of your property.

III. Market Analysis:

• Comparable Properties:

  1. 110 Oak Avenue (sold for $845,000, sold in October 2070)

  2. 115 Pine Drive (sold for $860,000, sold in November 2070)

  3. 125 Cedar Lane (sold for $830,000, sold in September 2070)

• Market Conditions: The New City suburban real estate market has seen a 5% increase in average home prices over the past year. The demand for residential homes remains high, particularly in established neighborhoods like yours.

• Economic Indicators: Interest rates are at a historical low of 3.2%, which has encouraged buyers to enter the market, further stabilizing property values. Local economic growth has been driven by investments in technology and education sectors, benefiting property values in New City.

Property Condition:

• The property is in excellent condition with no major structural issues. The roof was replaced in 2065, and the kitchen was renovated in 2068. The landscaping is well-maintained, and there is a newly installed energy-efficient HVAC system that adds value to the property.

IV. Conclusion:

Based on my comprehensive assessment of the property and the current market conditions, the estimated market value of the property at 123 Maple Street, New City, NC 12345 is $850,000. This value reflects both the current demand in the area and the condition of the property.

Should you require further clarification or wish to discuss this valuation in more detail, please do not hesitate to contact me.

Thank you for trusting [Your Company Name] with your property valuation needs.

Sincerely,

[Your Name]
Senior Property Valuer
[Your Company Name]

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