For Rent: 3BR/2BA Single Family House in Bahama, NC, $1,000/month.
Archive for March, 2012
For Rent: 3BR/2BA Single Family House in Bahama, NC, $1,000/month
Posted in Raleigh Durham Real Estate on March 29, 2012| Leave a Comment »
What is a comparable?
Posted in Raleigh Durham Real Estate, tagged what is a comp on March 28, 2012| Leave a Comment »
What is a Comp?
You may have heard comp or comparable used in real estate parley. The definition of comparable or comp can be elusive especially to those who don’t dabble in the real estate industry day to day.
In this down market you might hear folks gripe that their agent used a foreclosed home as a comparable. The question is; is this the right thing to do? In a word…YES. It is.
Comps/comparable properties share a similar age, style, size, design, property type and location. So a 2 bedroom, 2.5 bath foreclosed townhouse in the Five Oaks neighborhood is indeed a comparable to other 2 bedroom, 2.5 bath townhomes of similar age and size. An agent who doesn’t consider foreclosed or short sell homes when generating a market analysis is committing a grave disservice to his client because in the end a buyer’s mortgage lender will step in with a definitive bank appraisal which will consider foreclosed and short sell homes in establishing value and no one wants to get cut like that so close to settlement. It’s best to get price right out of the gate.
For Rent: 4BR/3BA Single Family House in Durham, NC, $1,375/month
Posted in Raleigh Durham Real Estate, tagged 4404 Malvern, durham nc, homes for rent on March 19, 2012| Leave a Comment »
For Rent: 2BR/2BA Condo in Durham, NC, $900/month
Posted in Raleigh Durham Real Estate, tagged 600 Audubon Lake Dr. on March 19, 2012| Leave a Comment »
913 Urban Ave. $379,900
Posted in Raleigh Durham Real Estate, tagged 913 urban ave. on March 9, 2012| Leave a Comment »