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Author Topic: Comps question.  (Read 1997 times)

Offline MSB

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Comps question.
« on: August 16, 2005, 08:07:23 am »
What are a few good methods for obtaing comps without using a real estate agent?

Offline Immy

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Re:Comps question.
« Reply #1 on: August 16, 2005, 09:03:23 am »
You can go onto many realtors websites, where they will give you the sold prices on properties near what you are looking for.  If they are within 6 months of today and close to the same sq. ft,etc., they're usually pretty good.  If it's a really hot market, you need to be within 6 months.
If not, you CAN use a year out but 6 months is better.

Also,another poster on this forum used ditech.com's "e-appraisals" - they seem pretty good to.  I checked it out with my parent's address, and they bought their home in 69 and have lived there since and the info was all accurate as far as purchase price and the comps for their neighborhood, which is really moving right now.

Go to ditech.com and check it out.
hope this helps!
Immy

Offline snowbank

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Re:Comps question.
« Reply #2 on: August 16, 2005, 09:48:38 am »
"ditech.com's "e-appraisals" - they seem pretty good to"

Just checked my parent's house, and it's very far off, so be careful using ditech.  The estimated appraisal was $160-$180K.  The people's home right next door to us just sold for about $260K.  Our homes are almost the same.

Offline Immy

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Re:Comps question.
« Reply #3 on: August 16, 2005, 09:55:42 am »
Right,
it does depend on the market and how far crazy people are willing to bid above appraisal to get a house.
And also on how updated it is inside.  My parents prefer to spend their money travelling the world rather than updating the interior of their house so they will get less than a neighbor who has tricked their's out over the past 40 years.
Immy

Offline black95gt

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Re:Comps question.
« Reply #4 on: August 18, 2005, 03:51:30 pm »
i refinanced my home through ditech and they appraised my house at $48,000...   When i purchased the home 6 months before that IN RED TAGGED CONDITION, it appraised at $47,000.  Then i gutted it and remodeled it....i   Showed them about 15 other  comps and i got the appraisel up to $60,000.  I think a real appraiser would have appraised it at about $65,000, but it was good enough for my loan.  Point being, is they only use about 2 or 3 comps....i think they take a low one, high one, and average it............

 




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