How To Determine ARV
1. Try to stay in the same subdivision
2. Don't go across major roads if possible.
3. Make sure to compare properties with similar square footage (the max I typically go is + or - 20%)
4. Make sure to DRIVE your comps.
5. Beds baths and garages should be the same or similar.
6. Pick a similar house style as your subject property.
8. Go back 6 months for most recent comps.
9. Year built, try and stay within +/- 10 years of the subject property or better when pulling comps.
10. Lot size. This is typically a larger factor in homes of newer construction.
It is a critical puzzle piece when evaluating property. In my business in the Dallas - Fort Worth area, www.FeltusFamilyHomes.com, I regularly employ the above tactics.
If you have any questions, please write them below and I will do my best to assist you.
Comments (3)
Very helpful! I look forward to using these tips next time I run comps.
Account Closed, over 10 years ago
David Feathers, over 10 years ago
Nice piece, my question is if the homes are the same style would the year built be such a factor. That plus or minus 10 year window has been hard for me to fit sometimes.
Ceasar Blackman, over 10 years ago