The realities of real estate: Looking at the comparables

0 Comments | Capital, Oct 25, 2009 | by BOB

In last week’s column, we talked about market indicators and how they’re used to evaluate the health of the housing market as a whole. Those indicators are helpful from a macro perspective, but when it comes to determining the market value of an individual property, it’s necessary to take a different approach. Overall market conditions play a role; however, the primary consideration in formulating what a home is worth is shaped by a review of the selling prices for similar properties. This is what an agent means when they say, “Let’s look at the comparables,” or “the comps” for short
real estate comps