One recent transaction was for the Whitman Park Apartments, a 92-unit complex purchased for $4.35 million. Located at 1873-1901 Highway Avenue NE in Salem, the complex features 14 one-bedroom units, 67 two-bedroom units of two different sizes, and 11 three-bedroom units.
Real estate transactions rely in part on appraisals, which reflect a professional appraiser’s opinion of what a property is worth based on his or her education and experience in addition to market research, comparisons, and analysis. To facilitate a meeting of the minds between buyers and sellers relative to purchase price, appraisers should analyze value as objectively as possible. For more information on appraisals and the profession, visit AppraisalInstitute.org.