What is the purpose of using paired sales in appraisals?

Using paired sales in appraisals primarily serves to isolate a value for a specific feature of a property. This method involves comparing two similar properties, one with a particular feature and one without it, to determine how much that feature adds or detracts from the overall value of a property. By analyzing these comparable sales, appraisers can effectively quantify the financial impact of specific attributes, such as an extra bedroom, garage, or updated kitchen, allowing for a more accurate assessment of value.

While other aspects such as financing options, market trends, and depreciation are essential considerations in overall property valuation, they do not directly relate to the paired sales method, which focuses specifically on the relationship between features and property values to provide precise adjustments in an appraisal context.