Wednesday, July 23rd - "What are My Comps?" Question: Many of the homes going into my neighborhood are condos. I live in a single-family home. How will I know what my comps are? Answer:This is not a problem for any appraiser or real estate broker. They will value your property on the basis of recent sales recorded for other single-family homes in your neighborhood. A condo flat or townhouse is not the same as a single-family home with a lot, thus they do not readily provide a basis for comparison. The apples-to-apples comparison is single-family homes to single-family homes, not single-family homes compared to condos, co-ops or other types of real estate.

Published: July 23, 2008

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