what do you use as comps if all in neighborhood are original owners?? (agent, appraiser)

[amyla]

Hi. What do you use as comps if all in development is original owners and if anything in comparision is size and lot location is 12 years newer? Any advice?

[SaraSatin]

You may want to go to an appraiser for help with that if you don't have an agent that can do it. Appraisers use formulas to take into account comparable homes that are newer or younger. They did that with mine when we were trying to determine what it was worth before we made a decision on whether or not to sell. Ours was quite a bit older than the closest one that was comparable (by around 15 years as well) and the guy just used some sort of formula to figure it out.

[cynwldkat]

With our home they just kept going a bit farther away from our neighborhood until they could get the comps. And as the above poster said, they take into consideration the differences in the homes ages etc.