Real Estate Comps
Real Estate Comps are critical to your homes value! Understanding this simple little factoid can save you some serious grief!
Thanks to new technology and the advent of the Internet, the frustrating days of an out of area property owner struggling to understand their second homes potential value – based on recently sold real estate comps in their neighborhood – are over; particularly here in Southern Utah.
In the not-too-distant past, an out of area property owner would have needed to order an expensive appraisal on their property… just to establish its value. Now, thanks to FlexMLS and broker reciprocity, Realtors, appraisers and owners alike can research the values of a property in an individual neighborhood. Comparing listed homes for sale to recently sold properties in their geographical market – as a means of establishing an appropriate value for their out of area property.
In order to help St. George’s out-of-area property owners understand their homes potential value, based on their neighborhoods recently sold comps; Utah MLS real estate has prepared this page specifically so that out-of-area property owners can see for themselves. Comparing their property to recently sold southern Utah homes.
Understanding that each single-family residential home, and the neighborhood in which they reside are unique. With each property offering its own distinctive qualities and amenities. Sellers can see for themselves what makes a specific property “pop” for some – and less desirable for others.
Bear in mind this is a simplistic, dumbed down description of some of the variables appraisers utilize in order to come up with a fair market value for your property. By understanding the recently sold comps in your neighborhood, and out of area property owner can get a ballpark estimate on the approximate value of their St. George Utah real estate.
From Stone Cliff to Entrada, Realtors in southern Utah sold 32 single-family units over the past seven days. Classified as either a condominium/townhome or a single-family residential unit, these sales exclude any activity for vacant lots and land.
Realtors with the Washington County Board sold 44 St. George, Utah, real estate listings in the last seven days. Classified as either a single-family residential unit or a condominium/townhome, the total value of these 44 properties was approximately $15 million.
Southern Utah Realtors in St. George successfully sold 25 listings last week. Considered either a single-family residential unit or a condominium/townhome, these properties totaled approximately $9 million in value.