Burbank Home Value | Cost Approach Shows $240K in Instant Equity

Phil Keppel with Media West Realty explains the Cost Approach to real estate — a method used by appraisers, investors, and the insurance industry. Instead of just looking at comps, the Cost Approach asks: what would it cost to recreate the same home today? For Phil’s current Magnolia Park listing at $1.4M, conservative estimates put replacement at $1.64M — giving buyers over $240,000 in instant equity. *Numbers supplied are approximations and not guaranteed.