Home Buying in 94920>Question Details

Toni Abruzzo, Home Buyer in Tiburon, CA

What is the guideline in California for comparable sales as far as how far back can you go. 90 days? 6mo. 1

Asked by Toni Abruzzo, Tiburon, CA Sun May 4, 2008

year? Toni

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The appraisal guidlines ( I have been told) are the past three months for sold homes and to include active listings and one home that has an accepted offer
0 votes Thank Flag Link Thu May 8, 2008
I guess my only question for now is if Toni is a home buyer or a realtor.

Sylvia
0 votes Thank Flag Link Sun May 4, 2008
Sylvia Barry,…, Real Estate Pro in Marin County, CA
MVP'08
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Hi there Toni, 90 days is usually the norm in an active region where there has been many sales of like type property. But sometimes an exact match cannot be found until 6 months or even more. So it really depends on how close you match apples to apples.
If you need some comps run please let me know

Kind Regards
Michael Barron
Realtor
First Team Real Estate
0 votes Thank Flag Link Sun May 4, 2008
Comps are used to establish market value at a given time, so if a market is rapidly changing - either up or down, the shorter the period between the comp and what is presently selling is most accurate. Appraisers have traditionally used up to 6 months of comps, but these days I believe they do not go back further than 90 days. All the best. Liz
0 votes Thank Flag Link Sun May 4, 2008
I would say 90 days is the optimal, the further back you go the less reliable it is. Some areas like Tiburon and others have expensive homes next to lesser value ones, so choosing what the comps are is the key to a good basis point.
0 votes Thank Flag Link Sun May 4, 2008
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