Anyone want to give their comp opinion?

6 Replies

215 Avocado Ave. Sanford, FL 32771.

Fully renovated. I have it listed at $230k, which I honestly think is kind of high, but I also feel that it's supported by...

-310 S. Palmetto Ave. Sanford, FL

-600 S Elm Sanford, FL

-811 S Elm Sanford, FL

... As well as some active listings.

You expect us to go look those up?

Why don’t you post all the relevant info on the comps, and your opinion on those neighborhoods, locations verses yours?

Originally posted by @Wayne Brooks :

You expect us to go look those up?

Why don’t you post all the relevant info on the comps, and your opinion on those neighborhoods, locations verses yours?

 My property (215 Avocado Ave. Sanford, FL) = 1878 sf, 4/2, built 1935, two story

Comp 1 = 600 S. Elm Ave. Sanford, FL. Sold 7/19/18 for $250,000. 1794 sf, 3/2, built 1915, two story. ($139/sf).

Comp 2 = 900 S. Elm Ave. Sanford, FL. Sold 7/20/18 for $224,000. 1408 sf, 3/2, built 1920. Single story. ($159/sf).

Comp 3 = 310 S. Palmetto Ave. Sanford, FL. Sold 8/8/18 for $257,000. 1510 sf, 3/2, built 1910, two story. ($170/sf).

These 3 comps are all in Sanford's Historic District while mine is not, but they are within 1/2 mile. I personally don't see a huge difference between the Historic District and the surrounding area. Personally, I wouldn't want to live anywhere in Sanford, FL.

@Patrick Philip Well, the other three being in a historic district does make a difference...the People who like historic district properties generally pay more than for a comparable house not in a historic district, and historic property renovations generally cost more due the restrictions.

This is a case where 1/2 mile away are Not comps...many times just a block or two across a major road/subdivision boundary are not comparable.

Also, the more sf you have in comparison to comps, the lower the $/sf value you have.....a 1900sf 3/2 in the same neighborhood won’t have the same $/sf. as a 1500 sf 3/2.

Originally posted by @Wayne Brooks :

@Patrick Philip Well, the other three being in a historic district does make a difference...the People who like historic district properties generally pay more than for a comparable house not in a historic district, and historic property renovations generally cost more due the restrictions.

This is a case where 1/2 mile away are Not comps...many times just a block or two across a major road/subdivision boundary are not comparable.

Also, the more sf you have in comparison to comps, the lower the $/sf value you have.....a 1900sf 3/2 in the same neighborhood won’t have the same $/sf. as a 1500 sf 3/2.

 If that's the case, then I have no comps.

I personally hate when people pull comps strictly based on a specific distance. (I.E. 1 mile, 1/2 mile, 1/4 mile, etc.)

Like mentioned above property values can drastically change within a few blocks and/or between neighborhoods.

I see properties all the time within 1 mile or less of each other that have significantly different values due to location.

Originally posted by @Brian Garrett :

I personally hate when people pull comps strictly based on a specific distance. (I.E. 1 mile, 1/2 mile, 1/4 mile, etc.)

Like mentioned above property values can drastically change within a few blocks and/or between neighborhoods.

I see properties all the time within 1 mile or less of each other that have significantly different values due to location.

 Okay so how does this help me with valuing my house?

I still am left with no comparables.