Comps

Comments(10)

• 
  InActive_Account27th February, 2004

  Realtors are the easiest way to get comps for houses.

• 
  jackman27th February, 2004

  you can also use a few known sites for decent comps, but in most cases they will only get you in the ballpark. you should know square footage, br/ba, type of home and area (usually within a half mile and sales within the last 6 months).
  
  for starters, you could use yahoo. search google for some others.

• 
  JeffAdams27th February, 2004

  Your best bet to get comps is to run them yourself. You always want to run at least two different sources of comps.
  Ah, and dont forget to check and see what things are selling for in that area also.
  
  If you work a deal with a reputable title company such as First American Title or Common Wealth Title they will give you free access thru your own computer. If you establish a relationship with a realesate agent or broker, they might give you their codes to access the MLS
  to see what is available to for sale. This is very important if you are playing the
  "first day out MLS" game or the "expired
  listing" game. You can also run comps from the MLS.
  
  
  
  
  Best Riches,
  Jeffrey Adam
  
  _________________
  "The only place success comes before work
  is in the dictionary."[ Edited by JeffreyAdam on Date 02/27/2004 ]

• 
  wz2p7j27th February, 2004

  I think I knowthe answer but what is the "first day out MLS game"?
  
  Thanks, Chris

• 
  HOLLERatG27th February, 2004

  I'm not sure how it works in your area, but here in Philly, our Board of Revision of Taxes has a web site that gives you title information on any property in the city.
  
  You can also cross reference against sale prices for properties on that block, or any property that fits the same classification and description as the one you're accessing. In August of this year, they're going to start listing projected sale values.
  
  It's a great and powerful tool to have, and it saves alot of running around time in Center City. You can get owner information, sale price, comps, assessed land and improvement value and tax guidelines.
  
  When I spot a house that looks distressed, I jot down the address and immediately look ot up on BRT.

• 
  CREIPAP27th February, 2004

  What's the Board of Revision of Taxes?

• 
  NancyChadwick27th February, 2004

  CREIPAP,
  
  I believe that the Board of Revision of Taxes in Phila is comparable to county tax assessment departments in other states.

• 
  HOLLERatG27th February, 2004

  Correct Nancy. Because it's a major city, there are always constant zoning changes, so the taxes are always being revised. It happens so often that they just went with the revision title instead.

• 
  carolkerr27th February, 2004

  We are in maryland and use the MD real property search site to compare properties. You can link to your state's online tax records via ****Must Reach Freshman Investor status before posting URL's*** In MD,
  you can find out the sq ft of the house, the tax appraised value (not market value) by address. You can also search for properties sold in the last 1 or 2 years. If you pull up a street or subdivision (by number) you can then view all recent sales. So you can do your own basic comps, based on your own view of the exterior of homes in the area of you subject property. Remember tha appraised values are often much less than market value, so if you can look at records of recent sales, it will help you a lot.
  [addsig]

• 
  rma10982nd March, 2004

  in my opinon (being a real estate appraiser for 11 years) the best way to "pull" comps is through an appraiser - the best "opinion of value" is based on CLOSED sales similar in size and condition and within a close marketing area (aka contingent neigborhoods) and within a realistic time frame
  would be happy to do so for you
  Regina M. Armstrong