The Comparables report provides a detailed overview of Estimated Market Price determined by recently sold properties nearby. If you are searching for comparables of a home within a specific area where the type of home and lot size are generally the same, the Comparables tab will produce what you need successfully and quickly.
After you have searched for the subject property and are viewing a property report, select Comparables to view similar properties that have sold recently in the same area.
The top of the report will indicate the average Estimated Market Price for the subject property based on the number of comparable properties. This section provides you with the Average Cost per Square Foot and several estimated market prices.
The formulas used to determine the Average Cost per Sq. Foot, House Price Index, and Average Sales Price/Tax Appraisal Ratio prices are detailed in the Market Value Calculation section. Select the Market Value Calculation Link for additional information on how these values are calculated.
If adjustments are made to the search parameters or if home improvements are added for the subject property, the amounts in this section will adjust automatically.
If you would prefer to exclude one or more of the prices from the Comparables report, simply select the X icon next to the price you wish to hide. These items will be removed from any report you save, print or email.
Adjusting Search Parameters
Scroll down on the Comparables results page to the Search Parameters section to make any adjustments. Be sure to click SUBMIT when finished with selections.
Adding Home Improvements
You may add up to three common home remodeling improvements, which will adjust the number of comparables in your results as well as the Estimated Market Price information. Toward the top of the report, you find the Add Improvement section. Choose the room improved and the amount spent and select SUBMIT.
The addition will provide a percentage value as well as a price adjustment based on the amount spent and improvement quality. The Estimated Market Price will also add the updated Home Improvement Value.
Using the Map Tools
Your subject and comparable properties are plotted on a map as well as included in a list view at the bottom of the report. On the map, hover over a numbered icon to view basic information about the comparable properties. For more property details, select the View Report link to open the Property Report in a new window.
You may also use the map tools to refine the area of your comparables. Select the magnifying glass tool for options to draw your boundary. If you change your mind and need to remove your boundary, hover over the area tag inside the shape, then select Delete in the info box.
Once you are satisfied with the results, you can create a report and email, save or print the report.