Websites that give accurate comps

[Kristen Jackson]

Hi I'm currently looking at properties in West end area of Atlanta and I want to do market analysis. I thought Zillow was pretty accurate but I've been told that Zillow is not completely accurate. Are there any other websites to use for comps? 

[P.J. Bremner]

@Kristen Jackson

Computer algorithms do not give accurate comps because there are so many variables when you run comps that are difficult to program into a non-thinking software. It is much better to run your own comps. I use the MLS, but I could do the same thing with some of the other site out there. My personal favorite is redfin. Here is what I would recommend:

• Sold properties within the last 6 months
• Within 1/2 mile from the subject property
• Within 200 square feet of living space (subject property is 1,000 then you search 800 - 1,200)
• Property build date within 10 years of subject property, 5 years either way (subject property built in 1980, you only look at 1975 - 1985)
• Similar bedrooms and bathrooms

If you run comps on these criteria, you will be pretty close.  You need to take into account other factors like attached garage, detached garage, no garage, lot size, etc.  But you can get it pretty close without looking that far in.  If you are having trouble finding comps to your subject property, I generally like to expand sales dates back first, then distance, etc.  If you have to expand your search criteria too much in order to get good comp data, then your subject property is unique and you should be extra cautious.  If you are having troubles, just imagine what an appraiser will have to do?  Above all else, be conservative and err on the side of lower estimates than higher.  The worst mistake I see most noobies make (or crook wholesalers who don't know how to wholesale properly) is that they look for specific data that fits what THEY want to see, not what REALITY is.  If you find a property and are having trouble running comps, just post it on here and I'm sure someone would be more than happy to help.  If I see it, I'll give it a shot :)  You're probably better off getting a local person's opinion if you can get that though.  Best of luck!!