How do comps account for other factors?

[Paul Henning]

Hey y’all! We are about to sell our 2 bed 1 bath in Port Angeles, WA and Im curious how the comps of $/square foot affects other property factors.

For example. The 2:1 across this small town might be sold at $250/square foot and the realtors bring this up when pricing our home, but we have a 1/4 acre double lot near the coffee shops and a detached garage and they don’t. Where is that reflected and how do we (or should/can we?) ask for more because of these perks?

Thanks :)

[Caroline Gerardo]

For conventional loan the appraiser does not use a price per square footage to build. Comparables dominate the residential appraisal. They look at closed sales in past three/four months with like kind square footage and lot size. Having a garage, a mountain or harbor view, outbuildings with permits, any other particulars are adjusted up or down. Condition, age, and functionality can also be adjustments.  In some markets that have jumped fast some appraisers will not use cash sales as comps.