Gatlinburg Real Estate Blog

When advising Smoky Mountain real estate home buyers and sellers regarding a contemplated purchase, we always look at comps to determine what a fair price is for a property that we are helping them with. The best comps are recent sales that have as many as possible characteristics in common with the subject property. Good comparable sales should, relative to the subject: be in fairly close proximity. have been sold within the last 6 months. be of a similar square footage. have a similar number of bedrooms and baths. be of a similar age construction. have as similar a design as possible. All of these potential similarities and more are desirable to make the comps as meaningful as possible. Of course, there are always condition and quality of construction adjustments but the more like the subject, the more meaningful the comp. When considering the purchase (or sale) of a condo, the comps aren't across town, they are likely to be across the hallway. Not only are they in very close pro...

When advising Smoky Mountain real estate home buyers and sellers regarding a contemplated purchase, we always look at comps to determine what a fair price is for a property that we are helping them with. The best comps are recent sales that have as many as possible characteristics in common with the subject property. Good comparable sales should, relative to the subject: be in fairly close proximity. have been sold within the last 6 months. be of a similar square footage. have a similar number of bedrooms and baths. be of a similar age construction. have as similar a design as possible. All of these potential similarities and more are desirable to make the comps as meaningful as possible. Of course, there are always condition and quality of construction adjustments but the more like the subject, the more meaningful the comp. When considering the purchase (or sale) of a condo, the comps aren't across town, they are likely to be across the hallway. Not only are they in...