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SALES COMPARABLES OR COMPS
sales comparables report
Sales comparables, or comps, are regarded as the single best tool in determining a home's value. They compare criteria from recently sold properties in a neighborhood, such as sale price, age of the home, size, and square footage. Real estate agents traditionally use comps to prepare a comparative market analysis to price a home for their clients.
In addition to traditional sales comparables, SearchQ™ also features an Automated Value Model (AVM) that gives you an instant estimated market value of the subject property.
SELECTING THE BEST COMPARABLES
Location: pick the homes that have similar location features as your subject property (cul-de-sac, corner lot, view, top or hill side...)
Recent Sales: comparing recently sold homes from the previous 3-4 months is ideal; however, looking back as far as 6-8 months may be necessary.
Apples to apples: choose homes that are as similar to yours as possible in terms of style, construction, age, square footage, number of bedrooms and bathrooms, total room count, move-in condition, lot size, etc...
Amenities: curb appeal, school district ratings, nearby recreational facilities, shopping, traffic conditions etc...
SALES COMPARABLES MAP (sample)
sales comparables map and data
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INVESTMENT & VALUE ANALYSIS
PRICE SUITABLE COMPONENT
Check the current value of the property by analyzing foreclosure rates, default exposure, and market price of the local real estate market. Read more >
MARKET CONDITION COMPONENT
Learn more about local real estate market condition by analyzing sale price, home sale inventory level, distress sale and price index. Read more >
LIVING QUALITY COMPONENT
Get an overall quality of living score for the neighborhood that is based on school rating, crime index, and rental occupancy rate. Read more >
GROWTH & INCOME ANALYSIS
Investment data analysis of a property featuring home future value, rental income, resale value, target price and market trend. Read more >
RENTAL COMPARABLE SUMMARY
Featuring an estimated market rent and a list of the recent rented homes in the area. The rental price, property address and number of bath(s)/bed(s) are also reported.
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