to yours. The prices on these homes can give you a good benchmark for setting your own price.
FINDING COMPARABLES
How do you find accurate comparable sales and use them to determine your home’s exact value? Search internet sites such as Zillow or Realtor.com. To search for homes like yours, enter criteria such as square footage or number of bedrooms. The key to finding accurate comparable sales is to find the properties that are closest in location, condition, square footage, features, etc. How do you determine which comparable sales you should use and which to ignore? The following comparable sales should not be used. Very few of these properties sell for a fair value. Bank Owned/REO Properties: Banks always sell their homes for less than they are worth. I don’t know why, but they do it so often that I know it is true. The average bank owned home in today’s market is selling for 5% to 10% less than its fair value. This is true even for homes that are in good shape. Short Sales: Buyers and their agents hate short sales because they are tricky and unreliable. A buyer will often fall in love with a short-sale home, only to find out the banks won’t
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