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Jody Grubbs

Agent

Broker Associate (27 years experience)

8 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent

Advice

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By what criteria do you estimate the price of a house?

Response

When I do a market analysis on a house, I try to do it a couple of different ways if it is not in a subdivision with a lot of houses that have sold within the past six months or twelve months if the market hasn't substantially changed up or down.  1st way:  it is in a subdivison with at least three good sales that are fairly comparable in: location, size (within approx 200 sq ft either way), and age (within a couple of years either way).   2nd way: outside of the subdivision but in the same; school district, zip code, mile radius, etc.  Then I identify at least three properties that are similar in location desirability, size, age and amenities.  I then compare the two market analysis for the following:Average Sale PriceAverage Price per sq ft multiplied by the subject property sq footageMedian Price per sq ft multiplied by the subject property sq footageNOTE:  If I am using five or more comps, I will eliminate the high and the lowest priced properties since they can often skew the number.Keep in mind these are SOLD and CLOSED comps!  I hope this helps!

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