Comping: how do you handle figuring out comps and FMV?

[John Blythe]

I'm 1000% sure this is answered about 1000000x over throughout all sorts of threads on here, but am not getting the information I'd like from my initial search and review.

I'm wanting to know what methods different folk employ when trying to figure out FMV, particularly regarding comps. Do you _only_ go through a realtor? Do you trust Zillow, Redfin, etc. for a general range/expectation?

I'd like to run more analyses w/o having to blow up my realtor with so many requests, but don't want to make too many assumptions when all I have is Zillow, Trulia, and Redfin at my disposal.

I'd love to get access to the MLS to save them the time required for this part of the process, but it seems as if getting into the local RE chapter is a pre-req, is that correct?

Thanks for any insights!

[Jeff Wallenius]

John Blythe My wife is a realtor however I use Redfin for a quick look at comps. Most every market will have neighborhoods that are a premium so make sure your comping homes in the same general neighborhood (school districts drive value as well). Use sold comps, sold within 3 months ideally. Find as many comparable homes as you can and find a median value. The best advice I can give you is always be conservative with your value! It's better to be surprised when you sell for a higher price than to be shocked when you sell for less than expected. Best of luck!