When you put your home up for sale, one of the best ways to determine
the asking price is to look at comparable sales. There’s rarely
a perfect apples-to-apples comparison, so a pricing decision often
relies on comparisons to several recent sales in the area. Here are
five criteria to look for in a sales comparison.
1- Location: Homes in the same neighborhood typically follow the same
market trends. Comparing your home to another in the same neighborhood
is a good start, but comparing it to homes on the same street or block
is even better.
2- Date of sale: It varies by location, but housing markets can see a ton
of fluctuation in a short time period. It‘s best to use the most recent
sales data available.
3- Home build: Look for homes with similar architectural styles, numbers
of bathrooms and bedrooms, square footage, and other basics.
4- Features and upgrades: Remodeled bathrooms and kitchens can raise
a home’s price, and so can less flashy upgrades like a new roof
or HVAC system. Be sure to look for similar bells and whistles.
5- Sale types: Homes that are sold as short sales or foreclosures
are often in distress or sold at a lower price than they’d receive
from a more typical sale. These homes are not as useful for comparisons.
Inland Empire, Orange,Riverside and SB County