Home Selling in 60640>Question Details

Jodie, Home Buyer in Chicago, IL

how can i compare my condo to others in my neighborhood?

Asked by Jodie, Chicago, IL Tue Mar 18, 2008

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Answers

12
why do you need to compare?
are you selling it?
not a good time to sell your condo
keep it

anyways

have a nice day
0 votes Thank Flag Link Mon Mar 24, 2008
By the thumbs down are you saying that there are no condos in your neighborhood that appear on this "free" historical sales transactions website that "doesn't require" you provide your name or email address?
0 votes Thank Flag Link Mon Mar 24, 2008
You can try willow.com for a basic idea... or you can email me the address of the property, number of bedrooms, bathrooms, rooms, square footage and I will email you comparables. agnes@thecondoexperts.info
0 votes Thank Flag Link Mon Mar 24, 2008
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0 votes Thank Flag Link Sat Mar 22, 2008
Jolie
You have some great answers in these responses. I would add that the underlying question is "how do you compare?",
Comparison starts with your unit. It sounds to me as though you are a seller and a buyer, is that right? One of the reasons that sellers contact Realtors is to find out what they can do to maximize the selling price of their current home. Would that be of value to you?

The advantage to asking a Realtor for advice is that they know what sells. They know simple steps to take to make your property look it's best.

The other major task a Realtor has it to expose your property to the market. What is the point in tweaking a property with new paint, a little staging, decluttering, etc. if the photos taken are of poor quality, and only one or two are posted on the web?

Lastly, once you have an expert opinion of YOUR condo, how does it COMPARE to the others. Should you go just by the tax records? Should you visit 20 condos? A Realtor is IN the marketplace, showing property to buyers, writing offers, listing property, negotiating, so they KNOW what has value. Remember, in real estate the three main selling points are location, location, and location. And in condos it also means "what about your building and your HOA?". Adequate reserves, deferred maintenance, proper insurance, smooth runningt HOA? Realtors who are working IN the market know that in order to make an apples to apples comparison, you need to know all the pertinent facts.

Hope this is helpful to you.
0 votes Thank Flag Link Sat Mar 22, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Try this website but remember condition/updates, location, floor # & other variable must be considered.

http://chicagotribune.public-record.com/realestate/

Greg Z
0 votes Thank Flag Link Fri Mar 21, 2008
Jodie -

I agree with Deborah and the other posters - it helps if you personally check out other similar sized properties in your area through open houses, etc. That way, you'll see what the competition looks like, and you'll get an idea of where your property fits in. But do remember that the sellers' asking price might not be the same as what a buyer is willing to pay. So in any case, speaking with several well recommended Realtors wouldn't hurt - especially since it won't cost you anything more than your time to hear their opinions.
Web Reference: http://www.EricSeaborg.com
0 votes Thank Flag Link Tue Mar 18, 2008
You need the data from MLS records, tax records, and you need to have seen some of these properties. Realtors have the ability to compare several properties because we visit so many. Additionally, Realtors are not emotionally attached to a property and view the data and properties more objectively. Lastly, Realtors are able to reflect on the colledtive views of many buyers. Sellers look at their properties for what they like and value. A Realtor looks at the property for what the buyer pool will value.

As a property owner, you can collect the data on sales, and tax records and draw your own comparisons. Keep the points in mind from the prior paragraph. Try to look at the strengths and weaknesses of your proeprty from the view of third party. What amenities does your property have? What is the condiditon compared to the comps?
0 votes Thank Flag Link Tue Mar 18, 2008
Deborah Madey, Real Estate Pro in Brick, NJ
MVP'08
Contact
Jodie, I would suggest calling a few realtors and let them do their thing - as Ken suggested, we have the tools and the data to give you the most up todate picture the market.
0 votes Thank Flag Link Tue Mar 18, 2008
Hello Jodie,

A CMA from a Realtor will provide you with a current snapshot of the marketplace. It will show Active listings (your competition) on the market, those that have recently gone under contract and recent Closed sales. The CMA can be tailored so that it shows how your condo compares to similar condos within a certain price range and geographic area.

Good luck, Ken.
Web Reference: http://www.KDRchicago.com
0 votes Thank Flag Link Tue Mar 18, 2008
Hi Jodie,
If you need comps, just go to my website, go to "Your Home Value", put in your address and it will tell you what the other condos sold for to give you an idea. Hope this helps you out!
Web Reference: http://www.idamccarthy.com
0 votes Thank Flag Link Tue Mar 18, 2008
Your local Realtor will be able to help you with their access to the local MLS by showing you pricing trends as well as amenity trends. What neighborhood are you in so myself or others can recommend a specific Trulia user who can best answer specifically? Chicago's pretty big :)

To summarize- the local MLS will hold the answer.
0 votes Thank Flag Link Tue Mar 18, 2008
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