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Updated over 5 years ago,
How to determine the ARV in my area
Hello everyone, I was curious how you guys go about assessing the ARV of your properties? Comps are obviously a great tool but how many streets can I go in an area to determine if it's still a good comp to compare it to. Also what if a lot of the comps don't have as nice of a renovation? I am a contractor and I know its not a good idea to over-improve a house if the neighborhood doesn't support it but I feel like I can always improve it a bit more without spending the typical investor price to do so. I see some basic data on Zillow for an average price per SF and median home Zestimate even by bedroom in the area. My initial thought process is to try to find comps in my area that have recently sold and look at their price per square foot price. While I somewhat like this as a number, that number seems to go down with more SF in the properties themselves. Are there any sites similar to rentometer that offers this type of data? Thanks for any help you can provide.