Let’s look at the process real estate professionals use to price homes and how to find them. What Are Real Estate Comps? In real estate, comps are similar homes in your area that have sold relatively recently- that is the most straightforward definition. The more the comparable properties s...
Method 2: Find Comps Using Real Estate Websites Like Zillow In addition to having one of the largest property databases in the world, Zillow also has a ‘recently sold’ filter . This can be a very convenient to way to source comparable sale data anywhere in the US. You simply need to...
To find out what the most recent comparable sales are, talk to your real estate agent or look at recently sold homes that are similar in size, condition, and neighborhood on Zillow or REALTOR.com. Look at Houses That Are Priced Above Your Preapproval (Within Reason) Before you begi...
The main reason to consider using the MLS is because it is likely to have the highest number of listed properties, and it is populated with more information than you are likely to find on other websites. In addition, properties listed on the MLS tend to sell faster than homes sold by th...
while underestimatinga home’s valuemight leave money on the table. To price your home perfectly from the start, consult localreal estate comps. This information about recently sold properties in your area gives you an idea of what comparable homes around you are selling for, thus helping you ...
"Take a look at recently sold comps in your area and see how they've staged their homes," Anderson advises. "This will give you a good idea of what others are doing and what seems to appeal to buyers." Similarly, take note of homes that have sold for higher prices and compare them...
Comps:Often the bedrock of real estate pricing,comps, or comparable sales, refer to the recent sale prices of homes in your vicinity. These homes should mirror yours in terms of size, amenities, architecture, and age. They offer a window into what the market is willing to pay for propertie...
Before listing a home, an agent usually conducts acomparative market analysis(CMA). This is a highly detailed study of “comps” — similar homes nearby that have sold recently, are pending, on the market, or were previously listed but taken off the market. Some may have even been pulled ...
Your agent will gather information on recently sold homes — called comparables, or "comps"— to help you get a ballpark price. Look at homes that are as similar to yours as possible in terms of age, style, location and size. Homes that are currently for sale won't give you as reliabl...
The appraisal should offer unbiased insight into a property’s estimated worth by comparing it to recently sold homes in the area. Lenders usually request home appraisals to assess a home’s value and ensure borrowers aren’t borrowing more than a home is worth, reducing the lender’s risk ...