You’ve probably heard homeowners and prospective home owners talk about the advantage of buying the cheapest house on a given block. This is typically solid advice because when a home is surrounded by higher-valued properties, its own value goes up. This is known as the principle of progression. The opposite is also true – when a home is surrounded by lower value properties, its own value goes down despite it having amenities that typically make homes appraise for more money. This opposite principle is known as the principle of regression. As a real estate agent, it is important for you ...
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Real Estate Prep Guide
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