WeSERV Education Summit
Pinal County
Central Arizona College · September 17, 2026
Ryan Campbell, SRA — Follow Along Guide
Market Value vs. Market Price
These get used interchangeably — but they answer different questions.
What did it sell for?
- List Price — what the seller asks for
- Pending / Last Price — listed before going under contract
- Contract Price — what buyer and seller agreed to
- Sale Price — the final recorded transaction price
What should it sell for?
- Typically motivated buyer and seller
- Both parties well informed, acting in their own best interest
- Reasonable market exposure time
- Cash or equivalent financing
- Price unaffected by special financing or concessions
Contributory Value
What makes homes sell for more or less
- Size — GLA (gross livable area)
- Location (site value)
- Quality of construction / upgrades
- Bedroom and bathroom counts
- Pool*
Marketability
Related to Contributory Value, but not the same — it generally moves days on market, not price.
- Condition
- Floor plan
- Grade level of finishes
- Paint & Repairs
- Landscape amenities
- Nearby adverse factors (RR tracks, airports)
- Positive factors (park, common area, etc.)
- Pool*
Cost as a Starting Point
Cost of the amenity ≠ value
$60K
Depreciation
Value
This is the conversation to have before a seller assumes their $60,000 pool adds $60,000 to the price.
Pinal County Pool Example
Real ARMLS data — 1,678 closed sales, past 12 months
1,475 sales
203 sales
Finalizing the Adjustment
No single method carries the whole conclusion — the appraiser reconciles all of them.
1. Cost / Depreciation
What it cost to build, minus age & wear
$60K pool ≠ $60K in value — Cost approach ceiling: ~$40K
2. Paired Sales
Isolated, direct market evidence
$23,500 pool difference
3. Group Data
Broader confirmation across many sales
$30,640 pool reaction gap
4. Market Reaction
How the market responds to the specific feature
$30,000 pool adjustment
Price Per Square Foot: Gross vs. Net
Gross $/SF tells you the market. Net GLA tells you the adjustment.
Net GLA ≈ one-third of gross $/SF
$225/SF gross → ≈ $75/SF net
A reasonableness check — not a formula to apply blindly.
Solar Systems
The panels may look the same. The ownership doesn't.
- Considered personal property
- Does not warrant a line-item adjustment
- Buyers often must assume the lease
- Value based on market reaction — not what was paid
- If a loan exists, value doesn't automatically come with it
1. System size (kW)
2. Year installed
3. Original system cost
Effective Realtor-to-Appraiser Communication
Confirm the sale price and contract — every addendum included.
Contracts
Confirm price. Provide the full contract. Every addendum.
Improvements
A list with cost and year each improvement was made.
Comparables
Suggest comps if you'd like — but please limit to 3–4 sales.
Pinal County Market Snapshot
What's happening right now
- Current Rates — Still elevated
- Seller Concessions — Additional loan pressure on buyers
- New Construction — Growing — competing with resale
- 0% Down Risk — Risky choice if prices soften
- Sales Volume — Low volume, higher days on market
Adjustment Grid: Gross Price Per Foot / Net GLA
Subject has a pool. Two comps also have pools. One comp does not.
| Feature | Subject | Comp 1 | Comp 2 | Comp 3 |
|---|---|---|---|---|
| Pool | Yes | Yes | Yes | No |
| Sale Price | — | $670,000 | $650,000 | $625,000 |
| GLA (sq ft) | 2,850 | 2,780 | 2,910 | 2,820 |
| Gross $/SF | — | $241.01 | $223.37 | $221.63 |
| GLA Adj. (Ratterman $75/sf) | — | +$5,250 | -$4,500 | +$2,250 |
| Pool Adj. | — | 0 | 0 | +$30,000 |
| Adjusted Price | — | $680,250 | $640,500 | $657,250 |
$75/sf is a reasonable net GLA rate. Neighborhood average gross $/SF = $225 ÷ 3 (Ratterman) = $75/SF net adjustment.
Pinal County Pool CMA — Market Data
Source: ARMLS · 1,678 closed sales · 2,000–3,000 SF · Past 12 months
| Pool | # Sales | Avg List | Avg Sold | Avg DOM |
|---|---|---|---|---|
| No | 1,475 | $442,675 | $436,680 | 89 |
| Yes | 203 | $475,249 | $467,320 | 84 |
($467,320 − $436,680)
Homes with pools in Pinal County (2,000–3,000 SF) sold for approximately $30,640 more on average than comparable homes without pools. This is the market evidence supporting the $30,000 pool adjustment.
Finalizing the Adjustment — Four Methods
No single method carries the whole conclusion. The appraiser reconciles all of them.
What it cost to build, minus age & wear
$60K pool ≠ $60K in value
Ceiling: ~$40K
Isolated, direct market evidence
$23,500 pool difference
Broader confirmation across many sales
$30,640 pool reaction gap
How the market responds to the feature
$30,000 pool adjustment
Solar Systems: Full Breakdown
The panels may look the same. The ownership doesn't.
- Considered personal property
- Does not warrant a line-item adjustment — value is in the use, not the exchange
- Buyers often must assume the lease agreement
- Value is based on market reaction — not simply what was paid for it
- If a loan exists, the value doesn't automatically come with it
01 System Size — kW / production capacity
02 Year Installed — Age matters
03 Original System Cost — Useful context, not the same as value
Open Discussion / Q&A
Use this space to write down questions or notes during the discussion.
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Ryan Campbell, SRA
Owner & Chief Appraiser Since 2007
OnPoint Appraisals
1490 S. Price Road, STE 109B — Chandler, AZ 85286
WeSERV Education Summit · Central Arizona College · September 17, 2026