How to Find Out What Homes Sold For in My Area
If you want to know what homes are sold for in my area, you may have to do some digging. Using Zillow’s sold prices is not always helpful because they often don’t reflect seller concessions. Here are some tips to get comparable properties in your area. Listed below are some tips for finding similar homes. Listed below are some other resources to find comparable homes in your area. But be careful!
How to find recently sold properties in your area
A great way to research properties in your area is with online tools. You can use tools such as Zillow to look up recently sold properties by city and zip code. These tools are great starting points, but they can’t replace an experienced real estate agent’s expertise. Here are a few ways to use these tools:
Many towns make their tax information available online. Type in the address of a recently sold property to determine its value. The site will display three sample homes for that address, along with the sale date and price. It’s important to note that not all counties have the same transparency laws and technological capabilities. Some counties can pull the information by the street name alone. Others require more information. If you don’t have access to public tax records, you may want to contact the local property assessment office to obtain this information.
Zillow’s sold prices don’t always reflect seller concessions.
A home’s price may be more than its real-world value because the seller made concessions. While homeowners sold many homes below the asking price, the sale price by Zillow was higher than the “Zestimate” of the house. It is unclear if Zillow’s price is the home’s exact value, but it is still a valuable indicator. The website has nearly five million home listings, and the company’s sold prices don’t always reflect the seller’s concessions.
In the above example, Zillow’s algorithm didn’t consider the expired listing at $186,000 as a factor in the price. Although Zillow’s algorithms don’t view expired listings, these listings can show trends in the real estate market. While Zillow’s algorithm may not be entirely accurate, it does give the most precise picture of the property’s price.
In addition to being inaccurate, Zillow’s sold prices can be inflated by closing costs and seller concessions. Real estate listings marked as pending or contingent are also not considered “sold” by Zillow. This assumption is because contingent transactions are based on conditions that must be fulfilled before the transaction can take place. The typical condition is mortgage approval. Another common condition is the sale of the seller’s previous home.
The company’s new policy may lead to single-deal housing. Sing-deal housing is not great news for consumers. In Colorado, prices are still peaking, and buyers are paying record prices. Zillow’s fire sale won’t affect the market too much, however. Although Zillow has slashed prices lower than their purchase price, brokers and real estate industry veterans don’t expect it to affect the market.
Finding comparable properties
The first step in finding similar properties is to determine the approximate selling price of your subject property. Using an online marketplace such as Zillow or Trulia, you can find homes sold recently in the same zip code or neighborhood. Look for similar features and pay close attention to the date the comparable is sold. Remember that real estate prices can change quickly, so it’s crucial to compare homes with similar locations and features.
In addition to location, you can also find similar homes based on their price per square foot (PPSF). Generally, a home that is priced twice as much as one that is half the size can be worth twice as much. The same rule applies to the size of the home as well. It would be best to consider whether the house is in a better school district. If so, you should focus on homes of similar sizes and locations.
The next step is to find comparable properties in the area. Recent sales will give you a clear picture of the real estate market in your area. However, these comps may be from more than six months ago, which is not always the case. The good news is that finding comparable properties is easy and takes only two minutes. To request the comps, you’ll need the seller’s address, details, and the property’s sale timeline.
While Redfin or Zestimate may give you a rough idea of the price of a similar home, this is not an accurate estimate. It’s best to find actual comps and adjust the prices accordingly. This way, you’ll know how much your home is worth. Even if the home you want to buy isn’t listed on a site, it’s worth contacting a local town hall to see whether comparable properties have recently sold.
While comps give a rough idea of “market value,” they can be inflated by the unique features of a home. For instance, a two-car garage in a neighborhood may sell for more than a similar house without it. When determining the value of your property, you should look for similar homes that have sold within the past six months. The closer the comps are to your property, the better.
Finding homes in a specific neighborhood
Finding recently sold homes is crucial when you’re looking to sell your house. While comps can be hard to find, they are essential to the home appraisal process. Many established real estate listing sites will have data for you to access. Some of these sites even allow you to look up recently sold homes in a specific neighborhood. Redfin, for instance, has an easy way to find recently sold homes in your community. You enter your home address to see the publicly available information for that home.
Redfin’s “Find a Home” feature will provide information about homes that have sold in the last three years. Recent listings are beneficial for a comp because they are often the most accurate. Trulia also has a good tool for getting detailed information on properties. You can narrow your search by type, square footage, price per square foot, and the number of days the home has been on the market.
A third resource is a local newspaper, which will likely have an online presence. You can also visit the local tax assessor’s office. If you know of a recently sold home in a neighborhood, you can enter its address into a search engine to get the price and whether it was a fair market price. You’ll find a detailed report from the tax assessor’s office, including whether or not the home sold for below market value.
Using MLS data is an efficient way to gather comparable home values in a neighborhood. It’s important to note that different homes will have different values, and you should also consider distinguishing features when comparing similar properties. Missing parts in a home can lower its value. Using the MLS is easy and convenient. This tool also has forecasts for property values. It can be beneficial for real estate agents.
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