How Close Are the Comparables to the Property You are Buying?

[Corey Dutton]

When searching for comparables to determine an after repaired value on a property, how close are they from your subject property? In other words, are your comparables less than 1 mile from the subject property, less or more?

In some more rural or less populated areas I’ve seen comparables close to 3 miles away from the subject property. What do you recommend?

[James H.]

I'm no pro, but if a property is on one side of a busy street or major boulevard, even if the house is comp is within an eighth of a mile, it might not comp correctly.