Part 1: In the Land of Extreme Data
Extremes challenge valuation models. We have to be conscious of data extremes in the property inventory: They may deserve review. They may deserve exclusion from sales modeling. They may even deserve attention in model variable design or coefficients.
Have you ever wondered what local data extremes are lurking out there?
It appears the smallest single family home in Winnipeg proper is a 312 square feet bungalow in East Kildonan with no basement and no garage. This petite home is perched on a correspondingly compact 20 foot wide lot. At the other extreme, the biggest residence is a 13,900 square foot mansion on Wellington Crescent-if they run out of space it also boasts a 5,169 square foot basement.
Circa 2002: 1 Wellington condosAttached garages are a much appreciated feature during Winnipeg winters. The largest attached garage is 2,984 square feet on-where else?-Wellington Crescent, and there are several others in excess of 2,000 square feet.Or, do you like to curl up in front of the fireplace? One Winnipeg homeowner has seven to choose from-one for each day of the week.Always popular: a cavernous fireplace in a Main Street bank office (Millennium Centre)