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strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
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when looking up comps???
1-do you look for comps right around the house you are looking at (like within a few blocks of the house) or do you look throughout the whole town
2-how far back do you look---6 months, 1 year, etc.
3-what exactly do you look for in a comp---should you match the square footage, # of bed, # of baths---what should be the most important things you compare?
thanks!!!
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Posted 8/10/08 12:22 AM  |
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Prudential Douglas Elliman Real Estate
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: when looking up comps???
BUMP
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| Posted 8/10/08 8:26 AM |
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tabrtm
LIF Adult
Member since 10/06 1314 total posts
Name:
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Re: when looking up comps???
My mortgage company did it for me. They took a house that was not too much like mine and added and subtracted numbers to make the houses equivalent (ex. extra bed room= + $). You can look at newsday.com to find what houses sold for. It's under the real estate section, recently sold home. You can put in a town and a street if you want. You can find out what they house you are looking at was purchased for.
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| Posted 8/10/08 9:41 AM |
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MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
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Re: when looking up comps???
Posted by strongisland
1-do you look for comps right around the house you are looking at (like within a few blocks of the house) or do you look throughout the whole town
2-how far back do you look---6 months, 1 year, etc.
3-what exactly do you look for in a comp---should you match the square footage, # of bed, # of baths---what should be the most important things you compare?
thanks!!!
1-comps from/near the same neighborhood I would think are the best but not always possible. I look through the whole town but you definitely have to keep the location in mind when comparing
2-Same thing..recent comps are best but not always possible in this market. I personally look at comps that are older and newer..it helps me to see how the market has changed (if at all) in that time period. Also, if you aren't seeing many recent comps, that means the houses on the market are not selling at their current price
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| Posted 8/10/08 10:19 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: when looking up comps???
I try to use comps that are 6 months or less.
Same # of beds & baths
sq footage of house
Approx same lot size
always the same school district
things like basements, garages that are similar to the house I'm considering
to me a busy road house is not a true comp to a house on a quiet dead end
It really depends on how many comps you can find in that area.
For example with my primary residence it was hard to find true comps, my house is on a "double lot" and it was expanded so its much larger than neighboring houses.
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| Posted 8/10/08 10:52 AM |
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strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
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Re: when looking up comps???
thanks girls for your responses....i was thinking along the 6 month guideline as well
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| Posted 8/11/08 1:07 PM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: when looking up comps???
Posted by KellyFG
I try to use comps that are 6 months or less.
Same # of beds & baths
sq footage of house
Approx same lot size
always the same school district
things like basements, garages that are similar to the house I'm considering
to me a busy road house is not a true comp to a house on a quiet dead end
It really depends on how many comps you can find in that area.
For example with my primary residence it was hard to find true comps, my house is on a "double lot" and it was expanded so its much larger than neighboring houses.
This is what we received from our friend who is a realtor when getting ready to make an offer on our house (we did a FSBO).
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| Posted 8/11/08 1:27 PM |
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