Dilger_Week4CompetitiveAnalysis.docx

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Running head: [SHORTENED TITLE UP TO 50 CHARACTERS] 1 Competitive Market Analysis Robin Dilger RES429 Property Management Michael Hamuicka July 1, 2019
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[SHORTENED TITLE UP TO 50 CHARACTERS] 2 A comparative (competitive) market analysis is an examination of the prices which are like the property that I am looking at purchasing in the same area that have recently sold. Since no properties are identical, I will need to adjust for the differences between the sold properties and the one I am looking to purchase to determine a fair price to offer. This is a less- sophisticated version of a formal, professional appraisal. The building I am looking at is a 37-unit apartment building, 350,600 square feet located in downtown Canon City, Colorado which has a population of 16,400. The area being situated along the Arkansas River has allowed for soil suitable for orchards, ranching, and farming however, Canon as it is commonly called has slowly transitioned to a more diverse economy to include not only agriculture, but tourism, education, manufacturing and medicine. The major
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