Appraisal or Recently Sold Price??

[N/A N/A]

Good afternoon all,

I was wondering something.....

Recently, I just assigned my first contract. I am in the process of researching information on a few other properties. My question is.....

When you are looking at comps (either given by a realtor (CMA or on your own), what exactly should you be looking for? should I be looking at the List Price of other comparable homes? the Total Assessed Value of other comparable homes? or should I be looking at the Recently Sold Price of other comparable homes?

For some reason I just became confused??

I'm just not sure what numbers I should be looking at in determining the After Repair Value of a home when giving this number to investors. It seems as if I will give an After Repair Value number to an investor, and then they will check the comps and tell me that the comps they found do not match the number I gave them....please help...what am I doing wrong??

Also, what database are investors using to get pretty accurate comps?

Thanks a bunch friends.

[Kevin Boylan]

The most weight should certainly be given to what very similar homes within half a mile have sold for in the last 6 months. You should also look at the list price of very similar homes currently on the market AND at the list price of homes that have recently expired from the MLS. So if most houses have recently sold for around $100,000 and you see a bunch of current list prices around $115,00 and a lot of recently expireds at $110k - $115k you know the market price is going to be somewhere around $100k right at this moment, unless there's something really special about the house your looking at. But things constantly change so you need to re-check the numbers often.