What Comprehensive, and How do you pick the best ones for you dream?

Sellers and their agents that help comparable home sales identify an exact listing price for a house one that catches more buyers minimizes time on the market and clears the way for a smoother transaction is. Read on for more information on the comparison how to identify the most important factors and the most accurate comps for your home.

What are comps in real estate? 

A comp an abbreviation for comparable sales is a recently sold home in your area that is similar to your home in location, size, condition and characteristics.

How do buyers use real estate compass?

Buyers compare the reference to decide how much to give on a house. More specifically they want to make sure they do not overpay for the house they are buying.

How do appraisers use the real estate compass?

When an appraiser arrives at your home they will source their own computer to help them correctly assess how much your home is worth. Evaluation may occur for some reasons. Usually a buyer lender needs an appraisal before closing but sometimes sellers get an appraisal to help them at the right price of their home.

How real estate agents use MLS comps?

It is a collection of nearby comps put together to help an agent and seller decide on a good listing price. Real estate agents regularly run comps (even when not tied to a particular deal) to monitor their local market and gauge overall trends.

Real estate agents and MLS comps 

since they are familiar with your area they can interpret comps with an eye for area trends home price appreciation and price per square foot.

Can I get house bins in my area without MLS?

There are several additional resources for finding comps:

Public Property Records:In some counties you can search online but in others you may have to go to the courtyard. One thing to note is that the county record does not show the seller is concessions. So if a seller has reduced the price in the form of a credit on some necessary repair you will see the final lower price not the original asking price.

SuGanta Realty Services llp: Search SuGanta using recently sold filters. You can also filter by  pincode, square foot and other home features. SuGanta.com also typically listings which you have not found on MLS.

SuGanta.com Pricing Tools: Try this pricing tool to find comps in your area. Enter your home address to view recent sales. You can narrow them based on the results that are similar to your home and then we will calculate a home price for you.

What to consider finding real estate comps?

Aim to find at least three identical homes that meet the following criteria:

Location: Limit your search to a quarter and a half mile from your home. 

Deadline: Only include homes that have been sold within the last three to six months or less if your market is changing quickly.

Size: Try to live at around good size of your home. 

Bedrooms / bathrooms: Also include homes with bedrooms and bathrooms similar to yours. 

Home condition: Factor in such things as recent renovations updated interiors or outdated amenities.

Age of the house: Homes built around the same house as yours will be the most accurate comps as key systems like roofing HVAC and plumbing should be in the same position. 

Nearby features: Find homes that align with you in terms of walking, shopping, retail, waterfront proximity, views, public transport access and school ratings.

Price per square foot: Real estate agents use the price per square foot to identify comparisons. Divide the selling price of a house by its square foot then compare that number to your own desired price per square foot.

The best real estate tips you are looking for

As long as you live in a subdivision where a house builder has used the same finish layout and materials in all homes no two housing compounds in your neighborhood are exactly the same and even when the houses are very similar so no competition is right.

Use only sold homes 

Neglect homes that are currently on sale or pending. Why Sellers may domicile the house and then end up settling for very little. Or sellers may price below market price in hopes of dropping several offers. Until the sale of a house is closed you will never get an accurate reading on its value in your local market it is only worth what someone pays for it.

Pay attention to the type of house 

If your home is a single family home do not compare it to townhouses. If you are not using a condo to sell do not compare it to any other.

Take a closer look carefully scan the listing images. Is the house similar to your house. Even seemingly small discrepancies (such as stainless steel appliances vs. old white appliances) can add up.

Read listing details

Not every improvement or upgrade is visible in the pictures. For example a recently sold home may have a new roof that will make your price higher than yours and you would not know by just listing photos.

See it in person

If possible drive or walk from home to get a good feel for the outdoor situation. Pay attention to things like cracks or missing herpes in the driveway. The position of the exterior should give you some insight into the state of the interior.

Scan area

Make sure you understand the specifics of the location of the house. Is it in a desirable school district? Is it near the bus or train line?

Write everything down 

When doing compass research pay attention. After homes are sold the photos are sometimes lost or the listing details are removed and all size address and sale price you leave is not enough to produce a good comp. 

Set your price 

When you are ready to decide the listing price the most important thing is to consider multiple data points from multiple sources. Combine MLS with online data from recently sold homes from sites like SuGanta.com and insights from your real estate agent if you have them.

Compare with SuGanta Realty Services llp

Once you reduce your desired selling price based on comps check your work against the SuGanta.com marketing advertise of your home. SuGanta.com is calculated from both public data and user submitted data. You can also update your household facts to make your more accurate.

Avoid shortcuts

If the size of the comp in your house is double you cannot double its price. There are many factors that go into home pricing so the temptation to take shortcuts using poorly matched computers and estimates is not given.

Adjust for seasonality 

We have already mentioned that for accuracy all you need is reference data for the last few months. Another important reason is seasonality.

Let SuGanta Realty Services llp Offers Find the Comp for You 

Instead of spending a lot of time researching comps and trying to figure out the proper listing price for your home consider selling your house to SuGanta.com. Just tell us some facts about your house and we will analyze the condition and area comps of your house. Then we will provide you with our estimate of the value of your home and may offer to buy it for cash allowing you to bypass the listing process altogether.

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