how do you look up comps?

Asked by Pacgold, Riverside County, CA Wed May 19, 2010

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Betty, , 92629
Wed May 19, 2010
Why would a real estate pro ask this question?

1 vote
Judy And Nel…, Agent, Palm Desert, CA
Wed Dec 29, 2010
My husband, Nelson Horn, and I are agents in the Palm Springs area. We use several different methods to get our comps. However, we invite non-realtors EVERYWHERE to use a new service we have subscribed to so they too can search like a Realtor. Please be our guests. You can get WHAT you want WHEN you want it HOW you want it, you control it. It is FREE to use. A follow-up email with your impressions of the service at some point would be appreciated but in no way required. Sign-up at look for the sign-up box and make your selections.
0 votes
Pacgold, Both Buyer And Seller, Riverside County, CA
Thu May 20, 2010
Perhaps I should have been more clear. Sorry. I am trying to pull a Trulia comp list. Thanks
0 votes
Jamie Mueller, , Clarence, NY
Wed May 19, 2010
I search on the MLS and the tax records.
0 votes
Bill Eckler, Agent, Venice, FL
Wed May 19, 2010

Some of the more common resources for comps on specific homes are the local tax records, trulia, and zillow.

Without a doubt, the best route to go is to be in touch with a real estate professional that will help you apply this information and improve your chances of success.

Best wishes,

0 votes
Don Tepper, Agent, Burke, VA
Wed May 19, 2010
I log onto the MLS.

I go to the tax records to see what subdivision or community the property is in.

I go to "CMA," which is pretty much the basic search function. It defaults to transactions within the past 180 days. Generally, for starters, I'll leave it at that.

I then search for properties within the community that have sold (or are still active) within the past 180 days.

I then narrow down the search as appropriate. Usually, in a particular community most of the homes were built within a few years of each other. If not, I narrow that down.

I also narrow it down by number of bedrooms and baths, but leave some flexibility there. For example, maybe the homes were built as 4/2s, but some owners have added a third bath.

If there are some other unusual or unique aspects, I'll include those in the filters as well.

My goal is to end up with 3-5 very similar properties. From there, I look at the listings and see whether the properties differ in some way from the subject property. I make adjustments accordingly. I also look at the seller subsidies, to see what those were.

In other cases--where there isn't a community--I'll do a geographic search, generally (in suburban areas) starting with a radius of about 1 mile. I then narrow it down the same way.

In an urban area, or if I'm looking for comps for a condo, I'll start my search just on the condo itself. Or within a block or two of the property.

And that's how I do it.
0 votes
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