Comparable Sales 101 – 2018 Edition

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