The way real estate professionals determine the value of a home is to analyze the recent comparable sales within the last 90 days. In some cases going back as far as 6 months is justifiable. Active listings and listings that are in escrow will be apart of any analysis. The subject home is also compared to other home of the same size, location, and style. Give and take away a little depending on up-grades, condition of the property and don't forget those amenities they are just as important. Look at the view...... not a view of the neighbors back yard however, views of rolling hills, ocean, golf course views and the like are going to have a higher value. Remember, that old real estate saying, location, location, location? Well, it still applies.
Determining value can be rather easy in a condominium complex or homes in an area where they are fairly alike. However, when we are looking at custom homes where no two are alike it takes more skills so, be sure to speak with a knowledgeable REALTOR.
Now, when there are foreclosures and short sales among traditional sales one might gravitate towards the traditional sales however, do look at the foreclosures and short sales they should be adjust accordingly. Selecting a REALTOR that knows the current real estate market is very essential. I hope helps!
View All Homes for Sale in San Diego, California click on this link; allhomesinsandiego.com
...........until again!
~Carol
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