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Updated over 8 years ago,
Running comps in oahu ewa beach area
hey guys been spending some time trying to run comps to determine my asking offer and also how much the property is wroth.
I just wanted to make sure that I'm doing this right. So if you have the time could you let me know where or if I'm doing anything wrong. the comps I pulled are from Zillow on the closest properties to the addresses I can find.
Property Card says the property is wroth 589k at 1,201sqft 3beds/2baths
these are the properties that have sold in the area
1)$542k 1099sqft 3beds/2baths
2)$475k 1445sqft 3beds/3baths
3)$565k 1859sqft 4beds/4baths
the areas price per sqft is $415, so to get the comps as close as possible I'm taking the sqft and multiplying by the average sqft of the area to make up for the area sqft of the properties and then I'm adding or subtracting to the prices the properties sold for for a new price of...
1)$583,330
2)$373,740
3)$292,000
these are the new prices I get now to my untrained eyes? these numbers look so wrong I had to second guess myself about even posting this up.
Anyone if you could help me show me where I'm going wrong that would be so much help thanks ahead of time.
-Vick