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.

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.

Answer: True
Explanation: The Market really drives the sale of homes. We are unique here in SWFL, in our non-Gated communities, all of the homes are custom so understanding their uniqueness is vital to accurately valuing a property.

Answer: True
Explanation: Most people are tech savvy and typically know the home value before an agent comes out to meet them. Their is so much information on the internet today for them to have a rough idea.

Answer: True
Explanation: Yes you need to look at comps. Use (I Comps . Com) It's free fast accurate and there's no sign up just leave out the spaces!

Answer: True
Explanation: Zillow or Trulia can produce a rough idea of your homes value. But if you need an appraisal for a specific purpose, there is no other way to have proper backup. Emailed PDF or in Black & White on paper.

Answer: True
Explanation: Public data on homes values often take the " average" value of many sales. Such method does not take in consideration the condition of each house and the general appeal of the floor plan.

Answer: True
Explanation: Appraisal home values are based on available sales information and market trends. Researching the most recent sales considered comparable is the best indication of a homes values. Although various internet sites provide home values they do not take into consideration variables such as overall condition and cosmetic appeal. However it is important to remember that appraiser's provide an opinion of what a home may be worth to a perspective buyer.

Answer: False
Explanation: When researching for comparable sales to utilize -we considered such factors as the comparables' relative proximity to the subject property, recentness of sale and overall similarity to the subject property, in order to reconcile to the final estimate of the value of the subject property by the Sales Comparison Approach. The Sales Comparison Approach typically reflects the actions of knowledgeable buyers and sellers in a market are however there are other approaches to value that may be appropriate to consider.

Answer: True
Explanation: Self due diligence is the first step

Answer: True
Explanation: Just be sure your research uses "comparable" not just "alternative" properties. Also make sure to adjust for any functional utility differences that would be noticed by potential buyers.

Answer: Not sure
Explanation: The question is what is a comparable home? This is not such an easy question in Los Angeles. There are many factors that an Appraiser looks at besides homes that look just like yours. Sometimes the home you are thinking looks like yours have been improved way beyond typical improvements, or maybe your home was rebuilt and the homes in the area are original. These are all things a well trained certified residential appraiser looks at, in a addition to 20 plus other factors. If you need a rough idea for a sales transaction, divorce settlement, asset division situation you are better off hiring an appraiser than making a guess.

Answer: True
Explanation: The best way to know what your house is worth is to look at comparable sales around the area. Find out what houses are selling for around your neighborhood, also look at past sales and current listings.

Answer: True
Explanation: When meeting with Sellers, I will provide them with listings of comparable homes that have sold within the last few months, within the closest proximity to theirs. This will give them the most accurate reflection of the current market conditions and home values to assist in determining the fair market value of their home. An over priced home will not sell and by the time you reduce the price to catch to the market, potential buyers have moved on and possibly bought another home. If the buyer is working with a competent agent, that agent will also run a list of comparable homes to support the buyer's offer price.

Answer: True
Explanation: That's how appraisers do it. They use comparable sales from the last 6 months.

Answer: True
Explanation: yes

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.

Answer: False
Explanation: Until you have the opportunity to actually tour a home thoroughly comparisons with tax records, square feet etc. are not reliable.

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.

Answer: True
Explanation: It is one way to come up with the price to sell your home

Answer: True
Explanation: Its a good way to know what's happening to home prices where you're located.

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.

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.

Answer: True
Explanation: similar homes when you refer to comps.

Answer: True
Explanation: Comparative method

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.

Answer: False
Explanation: you could get an idea of what your home is worth on your own, however getting a Comparative Market Analysis from a Realtor is best, as they have more data to choose from.

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.

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.

Answer: True
Explanation: Unless you have uncommon home, the best way to find the a rough idea is what similar home to yours in your neighborhood have sold for in the last few months. Please note these are sold homes not active homes om the market these maybe over or under priced.

Answer: True
Explanation: No explanation needed! Have your agent provide you with the comps!

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.

Answer: True
Explanation: This can sometimes be true for single family houses, in areas where the houses are very similar, and price ranges are narrow. However, the comparable sales available in on-line services are not comprehensive. Many sales that have taken place do not show up, and the information about the sales is limited, so that a proper comparison analysis may not be possible. For property types other than single family dwellings, there is a lot more involved than comparing comparable sales, so, I would not recommend it as a reliable way to determine a rough value range.

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.

Answer: True
Explanation: Because that is the appraisors use as well to determain your home value.

Answer: True
Explanation: It is not an exact science but the market approach does give a good comparable.

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.

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

Answer: True
Explanation: Although it is not an appraisal it is the most likely average dollar amount you will get for your home...the market never lies...

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.

Answer: True
Explanation: Yes, I always do comps on homes for both my Sellers and my Buyers.

Answer: True
Explanation: OMG --- Your conclusion is only as good as the skills and experience and quality of similar homes you find. Comparable sales have VERY PRECISE definitions. Distance from the subject, Recent "arms length transaction" and about a thousand other variables are significant when it comes to REAL comparables. Engage an expert, or risk looking stupid. Real stupid!

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

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.

Answer: True
Explanation: Experience is experience...best medicen

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.

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.

Answer: True
Explanation: As a former licensed real estate agent and mortgage originator, competitive market analysis is one tool to establish valuation.

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.

Answer: True
Explanation: How else do you know what your home is worth?

Answer: True
Explanation: The local comparables are usually a great indication of the local market conditions.

Answer: True
Explanation: Most recent comps will give you an idea of what the home value is.

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)

Answer: Not sure
Explanation: Your real estate agent has access to sales data and will run the competitive market analysis for the seller.

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.

Answer: True
Explanation: It never hurts to research comp sales.

Answer: False
Explanation: We are experts at home evaluations, there is no easy answer to this question.

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.

Answer: Not sure
Explanation: it all depends

Answer: True
Explanation: I am a licensed REALTOR in addition to a licensed home builder/remodeler in my state so I am highly unique in this industry and have exclusive access to vital real time data in a quick and easy process for me to provide to my customers. My qualifications give me the abilities to provide extremely above average service and intelligent reports to my customers that no other competitor in my area could come close too. I have worked hard to corner all these industry resources and organization memberships though as part of my plan to give my customers more than anyone else.

Answer: True
Explanation: Comps are the best way to determine home values.

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.

Answer: True
Explanation: You should always know the comps when making an offer.

Answer: True
Explanation: This is a must to get an accurate market price for your home.

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.

Answer: True
Explanation: Researching the sale price of homes comparable to your own is a good way to get a rough idea of your home's current value.

Answer: True
Explanation: But leave the true comparative market analysis to a professional.

Answer: True
Explanation: Depends on specs and variables, should always refer to a certified appraiser.

Answer: True
Explanation: Comparable sales is the primary and most widely used methodology used to establish value for owner-occupied residential property.

Answer: True
Explanation: Unless you live in an area where comps are being faded out and not used.

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.

Answer: True
Explanation: True, however, context is very important and there are numerous variables that can affect your properties value.

Answer: True
Explanation: The comparison method is one of three methods used by an appraiser.

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.

Answer: True
Explanation: Yes, but you must know what to look for. Many times people say the house down the street sold for $X.XX however they do not know that it is completely updated on the inside and bigger than theirs and has sold over a certain time ago, etc. There is a lot that goes into picking comps, not just that it is close to you or like yours on the outside.

Answer: True
Explanation: That is the way real estate agents do it