Difficulty obtaining good comps.

Hey all. I’ve been trying to determine the value of a house on the lake in my town. The comps on zillow & Realtor.com are showing homes not on the lake, old comps ( 1 yr.) The values range from $15ok to $200k. I can’t find any record of any sale on the Registry of Deeds website. This house is currently listed at $339k. It’s been on the market for about 10 months. It used to be listed for $420K. I haven’t seen the inside yet but the pictures online show it needs a lot of updating. How can I find an decent ARV? Is there better way to get the info I need? Thanx.

phlemboy - I believe the best way to get comps is through the MLS. My suggestion is that you talk with an agent. In my area it has been difficult to find good comps even in the MLS. A lot of the houses selling here are REO and need a lot of work. My original intent was to not include REOs and short sales. However if I exclude them I will end up with none or in some cases one property sold within the past 6 months. So I am including REOs and making some assumptions on the ARV of those houses.

Hope this helps.

Have a great weekend!