Best ways to value homes without comps?

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In smaller markets, or deals with a unique home layout, it can be hard to find comparable sales to value the home on. What’s the best way to value a deal without comps?

Interesting question @Tyler Lee . When you don't have a true comparable I start sliding my criteria back and try to see what gets me a hit first. Initially I start with sold in last 6 months, type/style of home, + or - 200 square feet, within a half mile of subject property, same number of bed and bath. So from their I just start dialing each back...go 12 months, 1 mile out, range of bedrooms, + or - 400 square feet, etc. Then once you find something sorta close, find the price per square foot and multiply that number by your subject properties square footage. What stage of the game are you at? How small of a market is it? You looking for something to appraise? Offer price? Remember the same issue you are having the appraiser is going to have too so try to think like him. A home that is very close by sold 5 years ago is not as good as one that sold close by 7 months ago but is a split level vs a ranch.

Good luck!