Lots to Consider When Finding “Comps” for Your Home

Question: “Hi Gary. I’m trying to find out what my rental property will sell for and am sending you the four comps another agent sent me. He said to look at the ones for sale and price it just under them and I should get about that price. Two of them are in a much
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Using Imperfect Comps to Sell Your San Diego Home

Question: “I don’t see how you can use comps to determine value.  My house is remodeled and the house across the street just sold and it was in terrible condition.  You can’t tell me my home is worth what his is.” Answer: You’re right.  I can’t and I won’t. Even though a “comp” is supposed
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Don’t Base Your San Diego Home Price on One Comp

Question: “There’s a house that’s the same as mine around the block that just sold for $500,000.  So assuming I get that price and…” Answer: OK, I know haven’t asked me a question yet.  But I’m going to pretend you asked if you should be able to get the same price that an identical home
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Adjusting the Comps on Your San Diego Home

Question: [Email from someone wanting to price a one-story home.] “After looking at the comps, only property #5 seems comparable enough to be relevant. None of the others are single story. ” Answer: Indeed, the more comparable the “comps,” the better. So it would be preferable if we had more one-story comps to use, but
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When Do “Comps” Become Too Dated for Your San Diego Home?

Question: “At what point do ‘comps’ become so dated as not to be relevant to figuring out what a home is worth?” Answer: There’s no specific time period. Especially in a rising (or falling) market, the more recent the better. I try to go back three (preferred) to six months. In rare cases, I look
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Why Foreclosures Are Valid “Comps”

“I’d like to find out what my home is worth. The house next door was a bank-owned foreclosure and sold way under market value. It doesn’t have any bearing on my home’s value, but will it hurt my chances of selling?” Answer: Let’s address what I call the “It-Was-Just-A-Foreclosure” Syndrome. Many homeowners automatically dismiss foreclosure
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