Confidence Of Comps
I've used www.Domania.com for comps. I'm not sure about the value numbers. Has anyone used this site for comps and the value of a house. I know we all use realtor's or use other methods for obtaining comps but I just wondering if anyone uses this site trust the numbers.
The comps are as good as the info used to filter the search. You will probably have to do some driving. Look at the houses on the list. There are several things that determine the accuracy of a comp. Builder, date of manufacture, lot size, construction type, size of house, proximity, similar in condition, etc.? All of these things give you an estimate of value.
The true value of a house today is the amount that the seller can get for it today.
Good luck,
Jeff
I find Domainia's comps to be well out of date. You might actually have to subscribe to a paid service. There are several. Their comps are timely. They furnish staler stuff to the free sites ... evidently to protect the salability of their services.
It's like the stock quotes you can get for free online ... 15 minutes delayed in one case, 5 months delayed in the other.
what are those other sites?
Guys,
Use the MLS, borrow a password from your friendly Real Estate Broker, or have him do it for you. Give him the PIQ, ah buzz words, (Property In Question) yes its the childrens hour. Have him supply you with list of comps all sales completed in the last six months. Get in the car, now we want to be accurate, so roll down the window and actualy stop and look at the comps. Thats it. The reporting services are not accurate or timely and there is too much filtering.
Thank your lucky stars you are in present time. In days gone by I would also go to the place of records and research each sale, looking for the additional Trust Deed that recorded as an accomodation latter on the same day as the Grant Deed Recorded, etc. etc. I was looking for the "John Doe Sale" thats a sale that looks good but is really a "Forcemont" A sale that has been played with either because it shows a lessor value then the for real price or the price has been increased to establish a larger value. See all the things a good Broker does for you. Nice Broker, Nice Broker go fetch the ball!
Cheers Lucius
Real Estate Broker Incarnate