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Updated about 5 years ago on . Most recent reply
Using comps that don't have interior pictures?
This may seem like an obvious question/answer but I figured I'd ask anyway just to be sure. So for a multitude of properties in my area there are houses I find on Zillow/Redfin that look like they could be used as a good comparison via the numbers, but there are no pictures of the inside available to see what the home looks like. Should I just automatically write these off or is there some alternate way I don't know about to find out what the insides of these homes look like?
And another question, how far back is it usually acceptable to go when looking for comps? It's usually no farther back than a year right?
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Interior pictures are tricky in general. No agent/homeowner puts what would look bad in them. If you don't have all the info go with the basics. Type of home (Ranch/Colonial/Victorian), sq footage, garage spaces etc. Try and get a good feel (if the roof is good, it's a better sign). Vinyl siding, landscaping etc. If you have easy access to public records take a look at latest permits pulled. Try and get a feel for "non essentials" or "luxury items" that may show they cared enough to update. Nobody does high end landscaping if the doors are falling off the hinges inside.
To help with ARV I always look around the neighborhood. If every other house is in great shape, that is huge. If every other neighbor has a tarp on the roof or 3 junk cars on blocks and exposed surfaces, I reexamine what the "after is"
Oh and 6 months is my preference but a year is max
Not sure it helps but good luck!
- Mike Cumbie