![]() For the most part, assessors are doing bulk appraisals - and in some cases, they’re looking at entire towns or cities and using averages for metrics. The appeals process was put in place for your benefit. It’s actionable data that truly makes a difference.Would you know what to do if you received an assessment notice for one of your commercial properties? If the amount seemed too high, hopefully you or another member of your property tax team would check the accuracy of the valuation then appeal the property tax assessment if need be. What makes Canyon Data different, then? Unlike other companies that simply scrape data from open-source websites and platforms (taking a quantity over quality approach), we’re here to provide commercial real estate data you can trust.Īt Canyon Data, we provide the accurate, complete data that brokers, developers, investors, appraisers, lenders, property managers, asset management companies, general contractors, and more rely on to make sound decisions about how to get the most from your investment. Not only that, but the process of connecting the dots to really analyze and interpret the data can be maddening. These issues impact nearly half of the available data. The bad news is that there is a lack of up-to-date, complete, high-quality data-the kind of foundation needed for prudent decision-making. The good news is that the kind of data needed to make the right decisions is largely available through various databases and other sources. You’ve surely gotten the point by now that high-quality data is a pretty non-negotiable piece of the property valuation process. ![]() ![]() The Importance of High-Quality Data-and the Canyon Data Difference That being said, as we discussed above, many types of commercial properties are trending toward increased value. They advise caution, though, as the pandemic is not over, making it difficult to provide a firm idea of where things are going. At the time of its publication, commercial property values were increasing, recovering (in part) from the COVID-19 pandemic, which had caused values to decrease by an average of 6% from 2020 to 2021.įast-forward to late 2021 are commercial properties going up in value? Over half a year after the forecast cited above, the National Association of Realtors (NAR) found that values were, in fact, continuing to rise, furthering the industry’s overall recovery. This is the million-dollar question, isn’t it? To get a sense of the big picture, we can start by digging into a little bit of data from the National Association of Realtors 2021 Forecast. Is Commercial Real Estate a Good Investment Right Now? This is what Canyon Data, with its 150 unique data points, was built to accomplish.
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