When determining comps, what is the most important factor, the location or the type of house?

(0) | asked by: Mary Barone | share | 2 weeks ago | Report
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answer by Crystal Cadieux    |   Visit My Website   |   Contact Me
location, # of bed/baths, sq ft, and condition
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answer by Candace Tolliver    |   Visit My Website   |   Contact Me
Hi there! I wouldn't necessary go with one being more important than the other. Location, condition, and price are extremely important aspects of selling a home quickly. If a home is located in a desirable location, is in good condition, and is priced accurately, they tend to last a few hours in this market with multiple offers. The market has shifted into a sellers market. Whereas there are more buyers than housing inventory. When pricing a home, it is imperative to do extensive research on comparable homes in the neighborhood/area and school district. Once you have a strong and clear understanding of the housing market in the subject property's area, you can begin to highlight the home's updates, features and what buyers find value with and market upon those items.
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answer by Deb Wyckoff    |   Visit My Website   |   Contact Me
Location will tell you what the neighborhood sells for. Next the size, type and condition of the house will be the determining factor in the final value. The comps used should be in the same neighborhood and should compare similarly to the subject property.
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