Friday, November 21, 2014

Homebuyers MUST Learn to Differentiate between Sales and Comparable Sales. Homequant Explains!

A list of sales - by default - does not become comparable sales ("comps"). Sales - even from the same neighborhood - must be quantitatively adjusted to become comps. Once adjusted, the differences in property characteristics, distance and time (from varying sale dates) become irrelevant. 

Ask your Broker to show how the comps have been adjusted. Here is a snapshot of the adjustment process:


                                                  (Click on the image to enlarge)


Visit the Homequant site to learn how to select and adjust comps:

http://www.homequant.com/

Other Related Posts:
Homebuyers MUST Demand to See the Comps, Spatially. Homequant Illustrates! http://homequant.blogspot.com/2014/11/prospective-homebuyers-must-demand-to.html

Homebuyers MUST Choose Least Adjustment over Distance or Sales Recency. Homequant Enlightens! http://homequant.blogspot.com/2014/11/to-evaluate-comps-least-adjustment-is.html

Three Sales from Three Prior Quarters – Unadjusted for Time - are NOT Comps. Homequant Describes! http://homequant.blogspot.com/2014/11/three-sales-from-three-successive.html

Homebuyers MUST Use Five Best Comps to Value a Subject. Homequant Demonstrates! http://homequant.blogspot.com/2014/11/how-potential-homebuyer-should-select.html
 

Homebuyers MUST Verify Appraiser’s Values in Four Easy Steps. Homequant Reveals! http://homequant.blogspot.com/2014/11/learn-home-valuation-in-four-easy-steps.html

Homebuyers MUST Validate Home Values at Self-directed Sites. Homequant Pioneers! http://homequant.blogspot.com/2014/12/why-prospective-homebuyers-must-use.html

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