how do you find comps

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April 06 2010 - San Pablo
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The best place is the MLS.  If you are trying to do this yourself you can search some of the public brokerage websites in your area.  The best comps are recently sold ones with similar characteristics to your home like Hal mentioned below.  The problem most will have is finding information on sold comps.  The MLS that Realtors have access to includes sold  properties but public access MLS searches do not have this information.

Listed comps can be all over the mark when it comes to valuations depending on how well they are priced so they can give you an idea but may could easily be off by quite a bit.

If you are considering selling your home you can ask a Realtor in your area to perform a market analysis to give you these details.  I have a system I use that pulls and charts this information making it easier to understand.  I am sure somebody in your area would be happy to help you.
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April 06 2010
Comps are usually found by the following (in approximate order):

1) Within 0.5 miles
2) Within the last 3 months
3) Solds are top indicators, pendings next, listings are nice to see competition but rarely are accurate these days.
4) Home size (within 10%)
5) Lot size (within 10%)
6) # of bedrooms and baths (+/-1)

If comps can't be found using above, then the specs are expanded a bit.  For example, you may need to go out 5 months to get Solds in the area.

I use the MLS first, but often need to look at local public records to account for FSBO sales.
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how do you find comps
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Latest answer by Don Groff
April 06 2010 | 3 answers
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