What make a great comparable?

A comparable, also known as a “comp”, often shares many elements and characteristics within the subject dwelling. One of the most important aspects of accurately valuing a property is precise selection of a comparable sale. When overlooked, a property can easily be over and/or undervalued. I’ll expand on three items that make a great comparable: time, location and utility. In mind opinion, these items are the backbone of providing a fair and unbiased real property appraisal on a residential orientated property.



Timely- occurred in relatively close timeframe as the effective date of the appraisal. Market conditions are in constant influx, therefore the more recent the sale, the more relevant in regards to current market conditions.


Close by- Location matters. Real estate is affected by social, economic and cultural elements. Coupled together, a similar type property can sell for thousands less just because of economic influences within the community such as a shutdown of a major employer.



Utility- the overall make up of the home beyond the bricks and the stick. Key variances such as lot size, square footage of the home, total number of rooms, bedrooms and bathrooms impact on real property valuation. Site improvements may enhance a sale but some features (such as above ground pools) may not contribute to the final estimate of value.

If we were considered an income generating property (ICI / Industrial, Commercial and/or institutional), further consideration must be given for all income and expense generating characteristics, which typical takes precedent over the aforementioned items.


As you can see, the level and scope of work is quite time consuming during the Direct Comparison Approach.

Tips to expedite the appraisal process

One of the first steps within the appraisal process is to review characteristics regarding subject property and to perform a cursory review of the local market and competitive properties. The next step is to inspect your property, which is just as critical however there are often limitations that can turn a straight forward assignment into one with several delays.


1) It’s vital to obtain site information in regards to the size, shape, boundaries, restrictive convents and easements. A survey, plot plan or location certificate will greatly assist your appraiser. Overlooking any of these items can drastically impact the final estimate of value. For example. it is quite common to value a property in a mature neighborhood that is situated on a spacious lot. Care and due diligence must be performed to ensure that there is no subdivision potential available, which could essentially turn the site into a double lot from an appraiser’s perspective.

2) A copy of the original building plan can assist the appraiser is determining the living area, review of the building systems (plumbing, mechanical, heating, electrical) along with noting unique features which may add value. This is especially valuable in custom architecturally designed homes that offer an open concept floor plan within various levels.

3) Documentation of maintenance and renovations which have occurred to the property in recent times. This can assist the appraiser in determining the overall condition of your home. When was your roof shingles replaced? Have you enhanced insulation levels? When was the bathrooms renovated? All of these items greatly impact on market value.

4) A copy of your property tax assessments, which can also determine if your home is adequately assessed.

5) Ensure that all areas are accessible not only within the interior of the dwelling but around the exterior perimeter. Construction and animal debris can limited accessibility throughout the home!

6) It’s beneficial to share previous appraisal reports since there may be components that are not available. If your aware of any comparable sales near your home- now is the time to discuss.

7) If you have pets that may be nervous toward strangers, it might be best to keep them contained in a secure area.

Following these items can save your appraiser time, creating faster turnaround times for your property appraisal!

Tips to expedite the appraisal process

Our first step of the appraisal process is to review characteristics regarding subject property and to perform a cursory review of the local market and competitive properties. The next step is to inspect your property, which is just as critical however there are often limitations that can turn a straight forward assignment into one with several delays.


1) It’s vital to obtain site information in regards to the size, shape, boundaries, restrictive convents and easements. A survey, plot plan or locational certificate will greatly assist your appraiser.

2) A copy of original building plans can assist the appraiser is determining the living area, review of the building systems (plumbing, mechanical, heating, electrical) along with noting unique features which may add value.

3) Documentation of maintenance and renovations which have occurred to the property in recent times. This can assist the appraiser in determining the overall condition of your home.

4) A copy of your property tax assessments, which can also determine if your home is adequately assessed.

5) Ensure that all areas are accessible not only within the interior of the dwelling but around the exterior perimeter.

6) It’s beneficial to share previous appraisal reports since there may be components that are not available. If your aware of any comparable sales

7) If you have pets that may be nervous toward strangers, it might be best to keep them contained in a secure area.

Following these items can save your appraiser time, creating faster turnaround times for your property appraisal!