Home Buying in Granada Hills>Question Details

Jgk, Home Buyer in Sylmar, CA

If a townhome is selling for $400,000 in Porter Ranch...how much should the exact same condo sell for in Granada Hills?

Asked by Jgk, Sylmar, CA Fri Sep 4, 2009

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Jenny A. Le’s answer
There are no two properties which are "exactly" a like, even if they have the same floor plans.

The fact that one is locating in Porter Ranch and one is in Granada Hills, the one in Porter Ranch will tend to command a higher price because one community is newer and expanding and the other is established with fewer expansion plans for the community.

If you are a buyer, it is better to focus on the "features" that you want in a home then compare those features with similar properties in the "same" community. This is called a Comparable Market Analysis (CMA) and you could ask a Realtor to provide a current CMA for you.

You can send me the details of your subject townhome and I'll prepare a CMA each for Porter Ranch and Granada Hills for you.

Email: Contact@ActusPropertySolutions.com
Phone: (888) 525-0125
0 votes Thank Flag Link Sat Sep 5, 2009
Many builders use the same floor plan in many areas of a city Buyers agent can assist in comp' value of other location. GREAT QUESTION

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0 votes Thank Flag Link Fri Sep 4, 2009
This is not an easy comparison because of the homes not being located in the same community. Is the $400,000 number the sold price or the asking price?

As the seller, a real estate professional will be able to provide you with the information necessary to arrive at an accurate selling price based on your home's criteria not one located a distance away in a different community.

Contact an agent for their support.

Good luck
0 votes Thank Flag Link Fri Sep 4, 2009
Simple answer...market value. Talk to your agent as to what the market value is for the property.
Web Reference: http://www.PaulAragon.com
0 votes Thank Flag Link Fri Sep 4, 2009
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