who has the most accurate comps?

[Chad K.]

Since im not a realtor with access to the mls when im preparing to make a offer on a home as a wholesaler I use a few websites.Are there any great ways or websites to get the most accurate comps of a home? Because the current home im researching thru zillow(zestimate) was very different than the redfin comp. if you could help please leave a comment or message.

[Jeff Wallenius]

@Chad K. the best bet is to create your own comps. Redfin allows you to look at sold comps and search your area that way. Be careful on Zillow as they show solds that we sold back to the bank at foreclosure and these can be an inflated price that is unrealistic, so do your homework. Don't rely on any computer program to give you a value, theres too many variables. Find the closest houses in your particular area that have sold within the past 3 months preferably. Make sure your aware of school districts that raise value, or specific neighborhoods. In Portland one neighborhood can sell for $50K higher than another 5 blocks away. Let me know if you need more details on how to comp. Best of luck!

[Chad K.]

Jeff Wallenius thanks for your response, do you also use Redfin and Zillow to determine a homes value?

[Jeff Wallenius]

@Chad K. I use Redfin, but also have my realtors license so I have access to MLS.

[Chad K.]

Jeff Wallenius ok that's understandable so would it be safe to say that Redfin in more accurate in estimating home value? Because Zillow says 54k and Redfin says 65k if you were in my shoes would you take the Redfin home value?

[Jeff Wallenius]

@Chad K. I wouldn't take any computer generated value. Find homes that are most closely comparable to your target property and look at sold comps within the last three months if possible. Figure conservatively as you do not want to be surprised on your first deal. Contact a realtor to verify your numbers if need be.

[Chad K.]

Jeff Wallenius ok thanks for the advice

[David Walls]

I use a combination of Redfin and Trulia, but also what these guys have said. I look for comparables on these sites that have a similar home type, bed/bath, sq ft., neighborhood, sold within the last 3 months, and within a mile preferably. It'll become easier over time, but do not rely on just one of those sites. 

[John Casmon]

@Chad K. mentioned, I would suggest Redfin, but not using their tool to estimate value. Go through the comp process, similar to what an agent would do using MLS. Find the best recent sold comps and use those to help determine value.

I wouldn't put much stake in the estimated value from any online website. 

[James Wise]

The most accurate comps will be directly from the MLS. Call some agents and see if one will pull some and send your way. They may not all do it for you but I imagine it won't take long to find one that will.