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Age of Comp Sales

Add date of sale to filter? 2 year old sale not as relavent as 6 month old sale?
  • August 14 2012 - Newport Beach
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Answers (3)

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That is my point. The app should allow a search with a 6 month limit on sales. Thevapp should do this so the user doesn't have to.
  • August 16 2012
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6-month old sold comps is the standard, whether doing a BPO, CMA or a full appraisal. Where there is an oversupply of homes, the lender sometimes would require more recently sold comps, i.e., 3-month old. Also, listing comps are often required, and again, in high inventory markets, only active listing comps are accepted.
  • August 14 2012
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I would say a 2 year old sale is completely irrelevant. Appraisals generally require comps to be no more than 6 months old and I have seen cases where max of 3 months is required.
  • August 14 2012
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