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Secrets of Comparable Sales
Manage episode 480243007 series 3467349
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Learn the secrets of comparable sales to determine property value in Mobile.
This class is Module 33 of 46 in a series called Real Estate Investing Secrets.
Topics covered in this module include:
- How do you know if you’re paying a good price for a property you’re buying (not too high)?
- How do you know if you’re getting for a good price for a property you’re selling (not too low)?
- Why use comparable sales to determine a property’s value
- What makes a property comparable?
- What are the most important factors for finding true comparable properties?
- How do you find comparable sales to use?
- How to use sold comparable sales and how to use active for sale properties when doing comps
- What range of square footage should use for comparable sales?
- How do you deal with outliers?
- What should you use for proximity when determining comps?
- How do you compare properties of different types or styles?
- How do you deal with the age of a property for comps?
- Narrowing the net to come up with a handful of really good comps
- Addressing your current competition in actively listed, comparable properties
- Reconciling asking price versus sold price
- Why and when you might want to get access to the MLS
- A warning when you can’t find many comps
- What are the value of upgrades when comparing properties?
- What is so important about market-based adjustments?
- Stable markets versus changing markets: how far back should you go for sold comps?
- Comping income properties versus owner-occupant properties
- List of websites to get free comps from
- How accurate are automated valuations (like Zillow, Redfin, etc)?
- Determining value and comparable sales
- Walking through a property’s value on the free comp websites as an example
- A tool for plotting square footage versus price to determine your property value
- The importance of buyer’s eyes as the final step when determining price
- Plus much more...
Check out the video and additional resources related to Secrets of Comparable Sales.
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