How To Find Out Real Estate Comps

In rural areas the radius comps are pulled from will be larger. Without being an agent or an appraiser you may have a harder time accessing this information.

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Built within 10 years of your propertyunless the home is more than 50 years old feel free to widen the age.

How to find out real estate comps. 2 days ago. How to Choose Real Estate Comps Distance. However using the tools below in the resources section you can get a good idea of similar comps.

But for a full deep dive into the numbers youll want to enlist the help of your real estate agent or. Heres how to find real estate comps on your own. Appraisers property buyers and property sellers are among those who might turn to real estate comparables on a regular basis.

Additionally you can ask your agent for a list of comps which. When it comes to recent real estate comps most real estate experts agree on sales in the past 3 months to be recent but it all depends on the dynamics of the specific market. The traditional way to find real estate comps which real estate investors have been using for decades is to perform a comparative market analysis CMA.

Start by selecting a half mile radius. Try to narrow your search to about a quarter to half-mile radius from your home. Within one mile for any urban or suburban neighborhood.

When you compare square footage properties that are considered acceptable comps should come within 25 of the square footage of your potential purchase. So if your property is 1500 square feet look for comps in the 1125-1875 square feet range. Here are a few essential things to consider when looking for real estate comparables.

Comps should have the same number of bedrooms and bathrooms same number of stories and a similar square footage. Using Real Estate Comps To Determine Value Property. Same area would usually refer to properties within a radius of 1 to 3 miles from your target property but you should make sure that there are no major differences within this radius.

1 To assess the value of a single property. 2 To find duplicates of a favorable investmentbusiness opportunity. Once entered it will calculate the average price per square foot and then multiply that by our subject property to determine the estimated value.

How to Find Real Estate Comps. First find the MOST comparable sales. Appraisers take local comps into their valuations and theyll provide copies of those comps in their report.

Only calculate above-ground square footage which must be within. Then enter the data into a spreadsheet. Commercial real estate comps are primarily used for one of two reasons.

Another option is to get an official real estate appraisal of the property. In an urban area comps are usually within a mile or so. Select the Type of Property First select the type of property you are looking at condo single family home etc Enter the address of the property you are trying to comp then select your radius.

Zillow Zoom in on your area then your neighborhood and finally your house to use as a reference point. Once you have a subject property you should set out to find comps The easiest method is to use the MLS but unfortunately you have to be a real estate agent to gain access to. The lot size and presence of a garage or basement should be similar too.

Find just sold properties from the most comprehensive source of real estate data online. Start your search for comps on Zillow by typing your city and state into the search bar. CMA is a real estate market analysis which serves as a tool for determining the market value of a real estate property.

This is the most time-consuming part. Anything bigger or smaller will skew your averages. Filter for Recently Solds so youre only seeing the yellow dots.

Ideally when you are looking for real estate comps smaller distances will provide more accurate representations of homes in your area.

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