Adjusting comps for an accurate ARV
Hey everyone,
As I practice developing accurate ARV's for various properties, I'm faced with 2 particular challenges:
1) How do I know which 3 or 4 comps I should stick with in a comp analysis if I have a list of 40 comps that are fairly similar?
2) Once I narrow it down and just have a few good comps, how much should I adjust each feature of each one by? For example, if the subject property has 1 bathroom and one of the comps has 2, how much should I increase that feature by in the adjustment? I know this varies by market but I have no idea how to figure this out for the market I'm in.
Any advice would be much appreciated. Thanks everyone!