Elie Issa, Home Buyer in Miami, FL

What is the best way to find out the average sales price in the area of a similar house I want to buy ????? Thank you

Asked by Elie Issa, Miami, FL Mon Oct 14, 2013


Help the community by answering this question:



You are stating that you are trying to buy a house. I hope you are using a Realtor and he/she should be the best person to provide you with sales comparable and help you present the best offer for you. But if you are trying to buy on your own, then PLEASE go to Zillow and other real estate internet venues for a on-the-fly market analysis and you will end up paying more for your property.
1 vote Thank Flag Link Mon Oct 14, 2013
You are better off not using an agent. As far as legal matters they don't have knowledge in the matter and they are not liable for anything they tell you. The agreement you sign with them will state they and the broker are not liable for anything they said verbally, it will also state you are responsible for knowing what the contract says. If anything a real estate attorney would be the best to help you understand and it will cost you much less than a realtors costs.

Again, all the information you are looking for is clearly available online and is very easy to do. Agent's are salesman and unfortunately doing this yourself cuts out the need for them and they live off commission. It would have been nice to have seen one that just tells you how to find this simple data instead of only advising you to get one to get a CMA
0 votes Thank Flag Link Wed Dec 3, 2014
It's very simple to do on your own. Go on a site like Zillow put in your address. Go down the map and the homes with a yellow mark are recently sold. It will give you all the information, selling price, date sold, # of beds and baths, year built ect. Many it also will show you price cuts and how long on market. Divide the price by sq footage and look at similar homes within your area on the map and you have the average price per sq ft for your area. While there you can also see homes currently listed, how long they have been on the market and compare the home to yours. If a selling price seems very off you can check with the county to confirm if the price is correct. Majority of the the homes sold are accurate and I've checked hundreds.
0 votes Thank Flag Link Wed Dec 3, 2014
Hi Elie. Your question is an important and frequent inquiry, but one which is rather easy to address. Sit down with your Realtor and together you can examine all of the homes comparable to the house which interests you. By comparing and contrasting each of the various characteristics of each property, you should be able to easily assess the market value of your future home.
0 votes Thank Flag Link Sun Nov 30, 2014
If you are working with a Realtor, they should provide a market analysis for any property that you are making an offer on. Realtors have the tools to research the similar properties in the subject area, and determine the market value range for that property.

Best regards,
Stefanie Cohen, PA, ABR, SFR
Berkshire Hathaway HomeServices Florida Realty
0 votes Thank Flag Link Sun Nov 30, 2014
Well, for starters, an agent would be able to give you the info you are looking for. :-)

There are a lot of risks when you purchase as a 3rd party at an auction.

I used to work in that industry and I've seen/heard a lot of crazy things happening.
0 votes Thank Flag Link Tue Oct 15, 2013
Well the simplest way would be to get comparable in that specific area you can do this by simply contacting a local realtor such as myself.
0 votes Thank Flag Link Tue Oct 15, 2013
We are buying online directly from the court. So how can a realtor help us???
0 votes Thank Flag Link Tue Oct 15, 2013
Find the best Realtor, and sign a buyer's brokerage agreement with them. Anything you buy you will pay them the agreed upon commission for supplying you data. You have to ask yourself, how much real estate have you bought and sold in your life ? For instance I've done over $50,000,000; that is a lot of experience.

Also I forgot that I have a service I pay for called Top Producer which I can set up comps emailed for any neighborhood. It charts median price.

Just click on this link and I can set up a comprehensive report especially for you!
Flag Tue Oct 15, 2013
For your sake, I hope that being an investor is not a hobby....but, like in any field, if you do not surround yourself with with professionals in that field, you are nothing but an amateur..... if not Realtors, who are on the front line, as far as Real Estate, who do you expect to guide you, other investors, like yourself? Just wondering...
0 votes Thank Flag Link Mon Oct 14, 2013
Hello Elie,

the best way to find the answer to that question is to work with an licensed real estate professional. They have the best tools to help you with all your questions in your real estate transaction and know the pitfalls of the real estate transactions.

Call me in case you have any questions.

with sunny greetings

Andrea Hoff-Domin
Lic. Real Estate Broker
Florida Dream Homes Realty
0 votes Thank Flag Link Mon Oct 14, 2013
Any Realtor in your area of investment will be more welcome to help you with your real estate needs.
0 votes Thank Flag Link Mon Oct 14, 2013

Click on the local info button and you'll find general information. Switch to Zillow and they'll give you their estimate of the value of the property. When you want to get serious, talk to a real estate agent to pull the comparables on the property. There are still too many variables that you simply can't see online. You simply need to get them from the MLS.

Good luck!
0 votes Thank Flag Link Mon Oct 14, 2013
This is a real estate blog, very few people are on this besides Realtors. As investors you need access to data that only Realtors can provide. Most of us will tell you that the average price of a home in the neighborhood you want to buy is meaningless data to the seller. The seller's agent has shown them the highest and best 3 comps in the neighborhood. That is the best data that you need and the only thing the seller cares about in a seller's market.

Trulia and Zillow will give you some average data. On Trulia go down to the bottom of the page of the house you are interested in to the PRICE COMPARISON (graph of prices for last 10 years) table and the SALES TRENDS (average price). The problem with these sites is that they use county tax record information for comparables and that means square footage and maybe number of bedrooms. They don't know if a property is on a lake, backs to a 6 lane highway, or has an updated kitchen, full of mold, etc. These are all value adjustments that must be made that a computer cannot make.
0 votes Thank Flag Link Mon Oct 14, 2013
There is a large population of realtors on this site. Realtors can tell you because only we have access to systems which give us this info at a click. You would probably want to manually search the county property appraiser sites for each property and others in the area. That's the only way I can figure if you're doing it without a realtor.
0 votes Thank Flag Link Mon Oct 14, 2013
wow...ONLY real estate agents have answered me :) We are investors and we need to search many houses.. How can we do it online please?
0 votes Thank Flag Link Mon Oct 14, 2013
A Comparative Market Analysis can determine take an average of homes that are comparable with the subject property.
0 votes Thank Flag Link Mon Oct 14, 2013
Good evening,

Your realtor can prepare a Comparative Market Analysis for you to help you figure out the average selling price for homes in the neighborhood or area.

I would be happy to assist you with this. Are you already working with a realtor?

Please feel free to call, text, or email me anytime, day or night.

Kate Stout

Castelli Fort Lauderdale Real Estate
3908 N. Ocean Blvd.
Fort Lauderdale, FL 33308
0 votes Thank Flag Link Mon Oct 14, 2013

We can assist you with all your real estate needs

With enthusiasm,

Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!
0 votes Thank Flag Link Mon Oct 14, 2013
Talk to an agent to find out the comparables. Give me a call, and we can discuss it.

Ann Ryan
0 votes Thank Flag Link Mon Oct 14, 2013
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