How do you determine the value of a property? Is the property you're about to buy a reasonable price? How much can I get if I sell a property I already own? Find out in this class on using comparable sales to determine property values.
In this class you'll learn:
- Can't I just use Zillow? How accurate is Zillow's home price estimate really?
- Why use comparable sales to determine property value
- What makes properties comparable to each other and what makes them different
- Making adjustments based on properties being sort-of similar but slightly different
- The 3 most important factors for comparable sales
- James recites a poem to you (and how it applies to comparable sales)
- How to find recently sold properties and for sale properties to use as comparables
- The dangers of some types of proximity and why you shouldn't use some
- Same property type, same property style... keeping it real with similarities
- Discriminating against property ages
- Narrowing the net and catching a whale
- Your current competition and jumping to the front of the line to get your property sold next
- The deceptively devious difference between asking price and sold price
- Is it worth getting access to the MLS
- A WARNING: If you can't find comps...
- Determining the value of upgrades (the right way)
- Can't I just add the price I paid for my upgrades to the value of the property? That's a hard NO!
- Stable markets and changing markets... how that changes the game
- Determining value of income properties versus owner-occupant properties
- Be careful with automatic valuations - several examples compared
- Sources of comparable sales data
- Plus much more...
Duration: 1 hour and 38 minutes
Recorded: January 31, 2018
Instructor: James Orr