Running Comps

[Rosston Smith]

What are the parameters when you run comps? 
Each property pricing that is pulled must be:

-Within 1,000 sqft size of each other (Heated space)

-Nearly identical in amount of bedrooms/bathrooms (Ex 4/3,4/2, 5/2...)

-Do you use prices pre 07/08 or during that time? I Feel as if they won't be accurate to current pricing.

I check the same street and nearby streets all within a certain zip code. Then find the price per sqft avg and use that.

Do you guys have any other tips?

[Chris Grenier]

1) Property size should be within 500 sq/ft or less 

2) Age should typically be within 5 years either direction 

3) Bedrooms & Bathrooms identical if possible 

4) Only SOLD prices within the past 6 months (you can stretch it to 8 months if there really are no other sales) 

5) Within 0.25 mile if possible, and make sure the streets are comparable because in many cities all it takes is 1 or 2 blocks to make the world of a difference in property value

6) Primary features should be as similar if possible (i.e. garage size, pool/no pool, yard size, etc).