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Jul 13, 2015 · Whether you're buying or selling a home, comparing similar homes can yield a wealth of helpful information. “Comps,” or comparable sales, is a term anyone on either side of a real estate transaction should know well. It refers to homes located in the same area and very similar in size, condition and features as the home you are trying to ...
Jan 10, 2023 · Agents. Real estate agents can use comps when it comes to both selling and buying. Comps come in handy during the selling process because it helps agents determine if the price they’re listing ...
Oct 31, 2022 · Short for housing “comparables,” comps are a way to help you figure out what a home is worth based on the recent sales prices of similar properties in the area. Home sellers (and their real ...
Jul 22, 2022 · The term comps is short for comparable sales, and in real estate, it refers to homes with similar sizes and features in a specific area that have recently sold or are in the process of being sold. Buyer and sellers can use comps to compare homes to other recent real estate sales, which can be helpful for setting your asking price or putting in ...
- Paige Bennett
Sep 8, 2022 · What does your real estate agent mean when they say the word “comp?” It’s short for “comparable” and is one of the main things used to help gauge a home’s value. Here are a few of the main things that come into play here. Real Estate Comps: Close Proximity is Most Important. Does it make sense to compare two homes that are 50 miles ...
Comps are a critical part of investing in real estate. They are especially important to property wholesalers, and their clients. This can also be a confusing part of the process of buying, selling, and flipping houses. Master comps and you’ll have an edge in the market, find better deals, and make more money.
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Apr 29, 2024 · Real estate comparables — colloquially referred to as comps — are recent sales of similar properties that are used to determine a property’s current market value. Real estate comps serve as a pricing benchmark that reflect the dynamics of the local market; provide valuable insights into price trends; help mitigate risk for both investors ...
