Using comparable home sales - South Orange County Real Estate

Making an offer to purchase

Using comparable home sales

Once you have found a home you like, you will want your agent to show you what the sales activity in that area is for homes.

This is a three-step process. First, you’ll want to determine what other homes similar to the one you want are currently "active." These are homes still being offered for sale.

Second, take a look at homes that are "pending," these are homes that have entered escrow. However, these give an idea of what the range was the buyer might have paid, but not exactly what they paid.

Thirdly, you really want to consider what homes have sold for, this means they’ve gone through and closed escrow. Comparing homes that have sold allows you to compare what previous buyers have paid for homes in the area, and to see if the seller is asking a fair price for his home.

Remember, not every home is alike, some have more amenities and upgrades than others. You’ll want to consider improvements, the condition of the property, current market activity, and sellers’ motivation. And as always, a great factor that affects value is location, location, location!

If you have any questions, Please call

1-866-OC-House

Written By Shan Roberts

Department of Real Estate # 01262388

South Orange County Homes

South Orange County Real Estate

South Orange County Realtors