Be Aware of Neighborhood Dividing Lines
Geographic perceptions play a part in determining value…
Try to stay within local physical boundaries such as major streets, freeways, railroads and commercial developments. An example of a dividing line would be Colorado Boulevard, where properties to the west could differ in value from properties to the east. Price variations across dividing lines can vary by tens of thousands of dollars.
A duplex in Denver’s Whittier neighborhood could have a vastly different value than a similar duplex in the Clayton neighborhood even though these properties could be within just blocks apart. A buyers geographic perceptions and desirability determine value, for better or worse.
Do not include properties from more affluent, nearby neighborhoods. Using outlier properties to increase your property’s value will just skew your property’s real value and your final results will not be realistic.