We must equal or bracket (inferior and superior) each item AND stay as close to value above and below as possible, in order to minimize adjustments. 

Find best 3 sales, then add one for each of the following that may be missing & add 2 listings, preferably at least one pending sale - minimum of 6 comps required

-- Expand search parameters to accomplish all:  

• Proximity to Subject (1 mile for suburban, 3 miles for rural)  

• Sale Price/Value  

• Date of Sale/Time (at least 1 within 30 days and 1 within 6 months - or what client requires if more strict)  

• Location (Powerboat, Sailboat, Busy Road, Golf Course, etc.)  

• Site (Size of Lot and amount of water frontage)  

• View (width, depth of water or golf course, etc)  

• Design/Style (1 story, 2 story, unusual)  

• Quality of Construction (including whether wood frame or block, Flat roof, etc)  

• Actual Age/Year BuiltCondition (Updated/Effective or “feels like” age)     

• Room count in living area under air - bedrooms & bathrooms

• Gross Living Area (under air - 15-20% of the subject above and below)

• Rooms partially finished or below grade including basements

• Heating/Cooling (central or lack of)

• Energy Efficient Items (If major solar, etc)

• Garage/Carport count

• Porches/Enclosed Porches/Florida Room/Att storage, etc

• Pool/Dock/Concrete Seawall

• Flood Zone

• Well, Public Water/Septic, Public Sewer

• If all require a ton of adjustments go out however far is needed to find something with fewer adjustments, both net and gross to stay within adjustment guidelines

  LOTS: 

• Water Frontage:  Feet / Sailboat / width / location. 

• Scrub Jay? 

• Size / Sq ft. Road / busy / rural or commercial or airport or Rail Road etc...

  RUN AND ADD 1004MC ABOVE THE MARKET TRENDS REPORT

  Checklist for after you search for comps - add a sale or sales simply to satisfy the following requirements, even if not truly comparable:

  ____ At least one within 30 days and two within 6 months

  ____ For suburban properties, at least 2 sales within 1 mile / For rural properties, at least 2 sales within 3 or 5 miles 

  ____ If Well & Septic, most or all comps are also well & septic

  ____ Bracket Living Area

  ____ Bracket Bedroom count, Bathrooms, Garage spaces

  ____ At least 1 sale with similar or BRACKET locational influence/view/noise - In or Out of Flood zone, powerboat or sailboat waterfront, view, Busy Road, RR tracks, commercial buildings/area, Fresh Water Canal, Golf Course, unusual zoning code… ideally all sales would have same

  ____ Search with the only parameters being the type of property, within ¼, ½ and one mile and within a year to see if there are any decent comps we missed due to specified criteria

  Price/Recent price indicators

• 1. Location- gated com., boating waterfront (prox. To open water, bridges) gulf beach, rural/acre, historical, downtown, etc. commercial area, residential(avg), railroad tracks, busy streets, 

• 2. View- how deep/wide, greenbelt, commercial buildings

• 3. Concrete Seawall

• 4. Site SF

• 5. waterfront ft.

• 6.flood zone(in food zones are anything that starts with “A” or “V”) 

• 43,560 ft=1 acre-----------------------------------------------------------------------------------------------------------------------

• Go to the subject’s File in Google Drive for Order, Subject Info, etc., Look at sketch, photos & our notes in report or on tablet

• See Summary of Directions at the bottom of the Order on the Calendar

• Put Your Comps on the Notes Page for subject file in Google Drive - MLS #s separated by a comma

• Print your comps to one pdf - Broker Synopsis pages for each & MultiMap & save to G drive file

  Order of Priority (approximately) for searching for comps:

• Price/Recent price indicators

• Location/View/WtrFr/GlfCrsZoning

• Proximity to Open Water by boat

• Concrete Seawall

• For Condos: FL#

• Bridges

• Quality of Construction/Ext Constr

• SF Living

• Bed/Bath/HB Counts

• Site SF

• Pool/Spa

• Year Built

• Garage/CP/None

• Porch

• Upgrades/Equipment

• Effective Age/Condition (Any major updating/remodeling?)

• Dock/Lift

• HOA $$$

• Amenities for Condos

  1. Always try to have at least one sale within 30 days and one or 2 within 6 months... even if this is what you add after you find the best comps.

• 2. For suburban properties, be sure to have at least 1 or 2 sales within 1 mile...even if this is what you add after you find the best comps

• 3. For rural properties, be sure to have at least 1 or 2 sales within 3 or at least 5 miles...even if this is what you add after you find the best comps

• 4. We should only very rarely go more than 2 miles for suburban comps :)

• 5. Yes, we can put better ones on for 6th-8th comps, if needed :)

• 6.  Always have at least 1 sale with similar locational influence/view/noise - In or Out of Flood zone, Busy Road, RR tracks, commercial buildings/area, Fresh Water Canal, Golf Course, unusual zoning code… ideally all sales would have same

• 7. Start with the only parameters being the type of property, within one MI and within 180 days or 90 days whichever is needed for the report and then start Adding only one criteria at a time until you If you to choose from... If you don't have anything good to choose from go out a year-in order to find something within a mile and then switch it go out 2 MI in order to find something within 90 or 180 days 

  A. Investigate indicators of likely value proximity 

• Current Sales Contract if Pending and was on mls or Zillow for more than 20 days - if less, value could be slightly higher

• If recent sale (same as above) considering increasing values and any improvements or updating since the purchase

• If refinance where there is a sale recent sale:  consider the most recent market (wasn’t REO or Short Sale) sale and apply changing values and any improvements or updating since that purchase:  Put address in Zillow, go to Price/Tax History, Neighborhood, Then click on the blue Home Values for that zip code - use the graph for neighborhood median price - subtract current value from the value on month and date of the subject’s prior sale and divide by the value on date of previous sale for the % of value change.  Then take the sale price of previous sale and add that % of change.

• Check recent Mortgage amounts on Realist and divide by 80%

• If refinance where there is No recent sale - Ask Lora:  we can use assessed values and do similar math as compared to recent sales in the subject’s neighborhood by comparing their sale price vs their assessed values.  Compare actual recent sale prices of other similar properties in the subject’s neighborhood to their assessed values and apply that percentage to the subject’s assessed value.

  B. Look for any locational obsolescence.