Comparing Comparables

  Whether it is an appraiser determining the value of a home for a mortgage lender or a potential listing agent putting together a CMA (Comparative Market Analysis,) recent comparable sales are as important as the subject property itself. Scenario: A licensed real estate agent lives next door to a home that was previously listed for sale and after 6 months of not selling the for sale sign was taken down and the listing was showing as Expired in the MLS. Select a property (doesnt have to be an actual expired listing) can be a home listed for sale that has been on the market for over 30 days or a fictitious listing made up in your community of choice.