Real Estate Prices - How to Find Comparable Sales

Imagine this scenario: you have meticulously saved up money to buy that dream home of yours and after years and months of search, you have finally zeroed in on that dream home of yours. Everything seems fine but you are not convinced with the price the seller is quoting. The price does seem a bit on the higher side.

However, you do not want to rely on your feelings totally and would like to have concrete data before concluding anything on the quoted price. The issue of prices – how to find comparable sales has troubled many a buyers before and you will neither be the first and not the last one.

However, a systematic approach to the issue of real estate prices – how to find comparable sales will enable you to compare prices of homes with similar characteristics and you can arrive at a well informed decision. Given below are a few tips on how to go about the issue of real estate prices – how to find comparable sales:

Do not compare the incomparable: If you are comparing the health of two individuals, would it be fair to compare the health of a full grown adult with that of a baby? You would not because they are not equals and made differently.

Similarly, two different homes with different characteristics cannot be compared. If you do, you are having the wrong approach to the issue of real estate prices – how to find comparable sales. Try and compare homes with similar characteristics. For example, same locality, same construction materials, same amenities, just to name a few.

Select homes with comparable data available: Do not ever choose a home that is not registered, or a home for which you cannot find comparable data in the real estate market. If you do, you will be wasting a lot of time, money and effort. It is good to select homes made by reputed builders because they can provide you concrete data.

For example, Bradenton real estates in Florida come from a reputed builder and you can easily compare the data available for other real estate properties with Bradenton Estates. You can even compare one category of Bradenton homes with other types of Bradenton homes.

You can also compare these with other types like the Manatee County. The Manatee county real estate, for example, will provide data for comparison.

Select parameters and evaluate critically: Before you even set out to evaluate homes, draw up a list of parameters on which you would like to compare the homes.

For, example, you will need to consider factors like garage space, the total built area, the locality, the type of construction materials used, the amenities given by the builder, and so on.

Real Estate Prices - How to Find Comparable Sales