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Researching the sale price of homes comparable to your own (comps) is a good way to get a rough idea of your home's current value.

True
91%
False
4%
Not sure
3%
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Question: Researching the sale price of homes comparable to your own (comps) is a good way to get a rough idea of your home's current value.
Top Answer (91% of 184 votes): True.

Answer: True
Explanation: yes
AEXACT APPRAISAL COMPANY
Answer: False
Explanation: Leave it to a professional to determine the value of your home.
Louisiana Direct Home Buyers, LLC
Answer: True
Explanation: I like to do comps on a home that a buyer is interested in or the sellers' home, to see if the asking price is accurate.
Hudson Real Estate
ProMatcher
Answer: True
Explanation: Researching your own comparable sales is a good place to start. However, knowing which homes are truly comparable to yours and which are not is something that a professional appraiser or highly skilled local realtor would be best equipped to handle.
Residential Appraisal Associates
Answer: True
Explanation: The best wat to determine market calue is to study similar sales in your neighborhood.
Key Realty
Answer: True
Explanation: It is one way to come up with the price to sell your home
Hometown realty
ProMatcher
Answer: True
Explanation: It can be true but a lot of research and understanding into what makes a good comparable sale. For instance I just filed a rebuttal and won against a licensed appraiser who was more concerned with a model match than relevance. The model matches were over a year old while sales prices increased over 10% in that time. The current no model matches were more appropriate comparable.
KF Home Sales @ Quality First Real Estate Group
Answer: True
Explanation: A good real estate agent will provide a comparative market analysis, as part of the educational process of the transaction. It is important to understand the market and what is a reasonable expectation for the sale of your home.
Nest Atlanta Real Estate Group
Answer: True
Explanation: Recent sales of other homes that are similar gives you a good estimate of approximate value. In no way is it an appraisal.
Open Hand Investments LLC
ProMatcher
Answer: True
Explanation: Comparative method
João Pelayo
Answer: True
Explanation: Like kind properties are typically the best data to use for comparison.
V.A. Solano & Associates, Inc.
Answer: True
Explanation: Don't forget to look at the pictures and ask yourselves Is our home better or worse than this comp? Also make sure the comps are in your same or similar neighborhoods.
RE/MAX Realty Group
ProMatcher
Answer: True
Explanation: This is a good start, however, your local real estate agents should know more about the comps than the listing information shows and can get you a more in depth analysis of what your home should list for.
Keller Williams
Answer: True
Explanation: It is a good way to get a ROUGH idea. However, there is a lot more involved in setting the correct price to market and sell your home. Agents do a lot of research to determine the market price of you home.
Myra Strickland Real Estate at KW
Answer: True
Explanation: There is a good chance that an appraiser will be using the same comparables as your agent does, and is a good indicator of value. Comparables should be within the same neighborhood if possible and be a current sale.
RE/MAX Results
ProMatcher
Answer: True
Explanation: No explanation needed! Have your agent provide you with the comps!
Rodeo Realty
Answer: True
Explanation: Doing a market analysis of the homes comparable to your own house square footage is a great way to know how much your home is worth because you can compare to the ones on the market and the ones that sold.
Rinehart Realty
Answer: True
Explanation: When buying a home you must research the value and title so that you know your looking at a clean deal and that the value is what you paying for. So be sure it's the actual value not inflated value.
Buyers Sellers Network
ProMatcher
Answer: True
Explanation: This is referred to as a comparable approach which is the preferred method used in establishing value for single family residences. This method allows you to compare homes that have sold in the most recent past,typically six months, and are like-kinds and provide the purchasing price buyers were willing to pay during a specific time period.
CRG
Answer: True
Explanation: This is a good way to get an idea of what your home should list for prior to meeting with and interviewing potential listing agents.
BeBe's Beauty (Jeunesse Global)
Answer: True
Explanation: Because that is the appraisors use as well to determain your home value.
Re/Max Elite Realty
ProMatcher
Answer: True
Explanation: Comps is what the appraiser is going to use as well in order to find your value. You don't want to have a low appraisal because you are over priced.
Cutler Real Estate
Answer: True
Explanation: Be sure to remember that there are differences that have a value appeals to the typical buyer and that needs to be taken into consideration when performing a property valuation. For deeper discussion please reach out to us.
Accurate Appraisals USA
Answer: True
Explanation: I am certified as a PSA--- Pricing Strategy Advisor. I am able to compile Comparative Market Reports to mirror Appraisers which assists greatly in pricing listings for my Sellers and Buyers
Prudential Florida Realty
ProMatcher
Answer: True
Explanation: Texas is a non-disclosure state, so the information on sales prices may not be readily available to all. Asking a Realtor is the safest bet.
Re/MAX Southwest - The Jackson Group
Answer: True
Explanation: It's good to know what's on the market and how your market is performing. But sales are really the best indicator of what your home should sell for. supply and demand
Coldwell Banker
Answer: True
Explanation: Yes, I always do comps on homes for both my Sellers and my Buyers.
EA Realty LLC
ProMatcher
Answer: True
Explanation: Using the recent sales of comparable homes is a good way to get a ROUGH idea of what a property is worth, but it is not the only factor used when determining the best pricing strategy when selling the home. Of course, an evaluation of a property's current market value is only as good as the sources of information used to come up with this professional market value analysis. There are many factors that go into the estimate of a home's value. We take into consideration the property's condition, the time of the year in which it is being sold, the proximity to all desirable neighborhood features, the taxes on the property, the location, recent sales, projected sales, market trends, neighborhood changes, legislation, status of the economy, and over 50 additional factors when determining the value of a home. #rosarioshalomayevteam #glrosario
Coldwell Banker Kueber, Rosario Shalomayev Team
Answer: True
Explanation: I am a Realtor
VICENTE BAUTISTA GALINDO TRUST
Answer: True
Explanation: This can give you an idea, however with a comparative market analysis with an agent will be more accurate because active, sold, withdrawn homes are all used to compare.
Coldwell Banker
ProMatcher
Answer: True
Explanation: Not only is it good to know the value of the homes comparable in your area but it will save you time and money by aiding in correctly listing your home for sale.
Kea Interiors
Answer: True
Explanation: let your REALTOR pull comps for you, to make sure you have the latest data
TaylorMadeRealEstate.info
Answer: True
Explanation: That is part of the research. Searching the area you are considering to list or buy goes not only by price, the location, size and improvements are also a factor.
@properties
ProMatcher
Answer: True
Explanation: You have to be sure the comps are truly comps. A REALTOR in your neighborhood would be a better source of comps than a website whose data is outdated before it ever gets posted.
S & S Southwestern Management
Answer: True
Explanation: Not very accurate.
Finite Solutions Inc.
Answer: True
Explanation: How else do you know what your home is worth?
Lindhaven Properties, LLC
ProMatcher
Answer: True
Explanation: Most recent comps will give you an idea of what the home value is.
REMAX White House
Answer: True
Explanation: the more comparable, the better.
Real World Appraisal
Answer: True
Explanation: Once a home has closed in your track that is the most current comp for your area. Usually comps are only good for 6 months to be accurate and you always want to make sure it is a similar match. (room count, square footage, bath, etc)
Realty One Group
ProMatcher
Answer: True
Explanation: The only way to know is with comps, sold listings are a strong indicator for pricing to sell in current market conditions.
Saunders & Associates
Answer: True
Explanation: This is really a true and false answer that has a lot of components that affect the value of your home. Searching recent completed sales on comparable homes will provide a rough idea of the current market value, but is not complete by any means. We'd be happy to explain further, this is a complex question.
Home Fax Inspections
Answer: True
Explanation: It never hurts to research comp sales.
Sacramento Valley Appraisal
ProMatcher
Answer: True
Explanation: This is true, but it is best to hire a real estate agent so you get the real info - don't trust online sites.
John L. Scott - Lacey
Answer: True
Explanation: It is a good way to get an idea, however the market shifts daily so it is necessary to not take this as the end all to be all.
Keller Williams Excellence
Answer: Not sure
Explanation: it all depends
Corryn Appraisal Services
ProMatcher
Answer: True
Explanation: Comps are the best way to determine home values.
Fortius Consulting
Answer: True
Explanation: I will do a free Comparative Market Value of the sellers home
Coldwell Banker
Answer: True
Explanation: Yes, for a rough idea. A broker will be able to pull real stats from the MLS and do an actual CMA to help get the best pricing. BUT it's always your choice what to sell for.
ProStead Realty
ProMatcher
Answer: True
Explanation: This is a must to get an accurate market price for your home.
Keller Williams Realty Partners
Answer: Not sure
Explanation: You can certainly get a plethora of information today online, but I would interview several professional realtors in person and get their take on your property. A good realtor can give you qualified information and show you a track record.
Home Staging by SPC
Answer: True
Explanation: This is how I determine what a buyer is willing to pay for your home. A home is only worth what someone will pay for it.
Berkshire Hathaway HomeServices Myrtle Beach
ProMatcher
Answer: True
Explanation: But leave the true comparative market analysis to a professional.
Rector Hayden Realtors
Answer: True
Explanation: Comps as well as current trends are important.
West USA Realty
Answer: True
Explanation: Depends on specs and variables, should always refer to a certified appraiser.
iCORE Global
ProMatcher
Answer: True
Explanation: Unless you live in an area where comps are being faded out and not used.
ORCVirtual, Inc.
Answer: True
Explanation: Absolutley
LAKE AREA APPRAISAL FIRM
Answer: True
Explanation: Knowledge is power and you can be best prepared by having a market analysis done on the property which you are thinking of purchasing or selling.
Coldwell Banker
ProMatcher
Answer: True
Explanation: The comparison method is one of three methods used by an appraiser.
KJ Wood Home Inspections
Answer: True
Explanation: Yes, but such research sources should be the MLS or Title company and not necessarily public web sites. A free processional service.
Choice Lending Corp
Answer: True
Explanation: This is true but there are other factors involved. A Realtor can pull true comps and adjust for things such as upgrades, sq footage etc, and any seller concessions given to the buyer.
Keller Williams Partners SW
ProMatcher
Answer: True
Explanation: However, many property owners are unfamiliar with all the nuances involved with what is, and is not, a comparable property. There are many elements of comparison that are not readily apparent and could result in a misunderstanding as to the value of your property. Looking at other homes is always part of the process. However, if you want a true assessment of the market value of a piece of real estate you own, I suggest that you engage a licensed real estate appraiser.
Trusted Appraisers Group (NC, SC, GA)
Answer: True
Explanation: That is the way real estate agents do it
RLN Properties LLC
Answer: True
Explanation: This is what our system of market value is based on.
Reece Nichols-Mary Wilcox
ProMatcher
Answer: True
Explanation: This is a great way to start the process of learning what your home could be worth. This will not of course dictate the actual amount the home seller will actually receive but it helps with associating a real number with the process of selling their home.
Keller Williams Realty Atlantic Shore
Answer: True
Explanation: Chances are, your home will sell for approximately the same price as other comparable homes have - at least within a 90 day period.
Haven Express @ Keller Williams Arizona Realty
Answer: True
Explanation: The market will set the price according to the current trends
Advance a Realty Specialists
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